Required information The Sawyer Company has $80,000 to invest and is considering two different projects: X and Y. The following data are available on the projects: Project X Project Cost of equipment needed now $80,000 Working capital requirement $80,000 Annual cash operating inflows $23,000 $18,000 Salvage value in five years $6 ,000 Both projects will have a useful life of five years; at the end of five years, the working capital will be released for use elsewhere. Sawyer's discount rate is 12%. (Ignore income taxes in this problem.) What is the net present value of project X? (Do not round your intermediate calculations and round your final answer to the nearest whole number.)