The owner of commercial property that has a Fish-Fil-A on the property is expected to produce net operating cash flows annually, as follows, at the end of each of the next five years:

Year 1 = $ 48,000 Year 2 = $ 56,000 Year 3 = $ 66,000 Year 4 = $ 69,000 Year 5 = $ 75,000

In addition, at the end of the fifth year we will assume the property will (or at least could) be sold for $650,000. If the required rate of return on projects of similar risk is 14%, and you plan to invest $525,000 in the property:

What is the net present value (NPV) of this investment project?