The Horizon Company will invest $50,000 in a temporary project that will generate the following cash inflows for the next three years. Use Appendix B for an approximate answer but calculate your final answer using the formula and financial calculator methods.

Year	Cash Flow
1	$ 15,000
2	30,000
3	20,000

The firm will also be required to spend $10,000 to close down the project at the end of the three years.

Compute the net present value if the cost of capital is 12 percent.

Note: Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places.