Vaughn Company has the following information about a potential capital investment:

Initial investment	$	370,000
Annual cash inflow	$	85,000
Expected life		7 years
Cost of capital		12%

1. Calculate the net present value of this project. (Future Value of $1, Present Value of $1, Future Value Annuity of $1, Present Value Annuity of $1.) (Use appropriate factor(s) from the tables provided. Round the final answer to nearest whole dollar.)