Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The company's discount rate is 15%. After careful study, Oakmont estimated the following costs and revenues for the new product: Cost of equipment needed Working capital needed $130,000 $ 60,000 Overhaul of the equipment in two years $ 8,000 Salvage value of the equipment in four years $ 12,000 Annual revenues and costs: Sales revenues Variable expenses $250,000 $120,000 Fixed out-of-pocket operating costs $ 70,000 When the project concludes in four years the working capital will be released for investment elsewhere within the company. Required: Calculate the net present value of this investment opportunity.