Shields Company has gathered the following data on a proposed investment project: (Ignore income taxes.)

Investment required in equipment	$560,000
Annual cash inflows	$82,000
Salvage value	$0
Life of the investment	16 years
Discount rate	9%

Click here to view Exhibit 13B-2 to determine the appropriate discount factor(s) using tables.

The net present value on this investment is closest to: (Round discount factor(s) to 3 decimal places, intermediate and final answers to the nearest dollar amount.)

$78,750

$560,000

$82,000

$121,666