The following present value factors are provided for use in this problem.

Periods	Present value of $1 at 8%	Present value of an Annuity of $1 at 8%
1	0.9259	0.9259
2	0.8573	1.7833
3	0.7938	2.5771
4	0.7350	3.3121

Cliff Co. wants to purchase a machine for $48,000, but needs to earn a(n) 8% return. The expected year-end net cash flows are $17,000 in each of the first three years, and $21,000 in the fourth year. What is the machine's net present value? (Round intermediate answer to the nearest whole dollar.)