The Grouper Company is planning to purchase $454,000 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			$228,000
2			145,000
3			119,000
4			57,600
5			65,600
6			45,800
7			47,700
Total			$708,700

Calculate the net present value of the proposed equipment purchase. Grouper 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.)

Net present value

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