Rayburn Industries is evaluating the investment of $131,100 in a new packing machine that should provide annual cash operating inflows of $28,150 for 6 years. At the end of 6 years, the packing machine will be sold for $4,610. Rayburns required rate of return is 8%.

(a)

What is the machines net present value? (Round present value factor calculations to 4 decimal places, e.g. 1.2512 and final answer to 0 decimal places e.g. 58,971.)

Net present value

$