Pharoah, Inc., is considering investing in a new production line for eye drops. Other than investing in

the equipment, the company needs to increase its cash and cash equivalents by $$16,000,$ increase the

level of inventory by $$36,000,$ increase accounts receivable by $$31,000,$ and increase accounts payable

by $$11,000$ at the beginning of the project. Pharoah will recover these changes in working capital at the

end of the project $7$ years later. Assume the appropriate discount rate is $12$ percent. What are the

present values of the relevant investment cash flows? $($Do not round intermediate calculations.

Round answer to $2$ decimal places, e$.$g$.5,275\mathrm{.}25.)$

Present value $