The following table shows the expected cash flows from a project. There are no cash flows beyond year 4. The cost of capital is 7%. Calculate the projects NPV. Note: Do not round your intermediate calculations. Enter your answer in thousands rounded to nearest whole number. Calculate the economic rent in year 1.

Note: Do not round your intermediate calculations.

Enter your answer in thousands rounded to 2 decimal places.

Cash flows ($000s)

C0 -305

C1 108

C2 110

C3 105

C4 100