The instalation of a compressor is estimated to generate the following net cash flows. The effective date of the evaluation is May 1, 2014. The projections shown are based on a calendar year.

Year	NCF
1 (8 months)	$8000
2	$6000
3	$5000
4	$2000

Using mid-period discounting, find the present worth of the net cash flows as of May 1, 2014 at 18% compounded annually. Assume all the cash flows occur at the middle of the period.