The following data are accumulated by Geddes Company in evaluating the purchase of $140,000 of equipment, having a four-year useful life:

	Net Income		Net Cash Flow
Year 1	$47,500		$82,500
Year 2	29,500		64,500
Year 3	20,000		55,000
Year 4	4,500		39,500

1. Assuming that the desired rate of return is 6%, determine the net present value for the proposal. If required, round to the nearest dollar.