The Bramble Company is planning to purchase $487,000 of equipment with an estimated 7-year life and no estimated salvage value. The company has projected the following annual cash flows for the investment: Year Projected Cash Flows 1 $207,000 2 132,000 3 109,000 4 51,700 5 61,200 6 44,400 7 46,300 Total $651,600 Click here to view the factor table. Calculate the net present value of the proposed equipment purchase. Bramble uses a 11% discount rate. (For calculation purposes, use 4 decimal places as displayed in the factor table provided and round final answer to 0 decimal place, e.g. 58,971.)

what is the Net present value