Oregon Forest Products will acquire new equipment that falls under the five-year MACRS category. The cost is $300,000. If the equipment is purchased, the following earnings before depreciation and taxes will be generated for the next six years. Use Table 12-12.

		Earnings before Depreciation
Year 1		$	110,000
Year 2			120,000
Year 3			75,000
Year 4			50,000
Year 5			56,000
Year 6			33,000

The firm is in a 25 percent tax bracket and has a 13 percent cost of capital.

a. Calculate the net present value. (A negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole dollar amount.)