The Bridgeport Company is planning to purchase $ 470,000 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			$ 246,000
2			138,000
3			112,000
4			53,700
5			61,500
6			43,200
7			42,000
Total			$ 696,400

Click here to view the factor table. Calculate the net present value of the proposed equipment purchase. Bridgeport uses a 6% 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.)

Net present value

$ enter the net present value in dollars rounded to 0 decimal places