Suppose a company has proposed a new 4-year project. The project has an initial outlay of $31,000 and has expected cash flows of $7,000 in year 1, $8,000 in year 2, $11,000 in year 3, and $13,000 in year 4. The required rate of return is 15% for projects at this company. What is the net present value for this project?