Park Co. is considering an investment that requires immediate payment of $32,920 and provides expected cash inflows of $9,500 annually for four years. Park Co. requires a 5% return on its investments.

1-a. What is the net present value of this investment? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your present value factor to 4 decimals.)