Wildhorse Inc. is considering modernizing its production facility by investing in new equipment and selling the old equipment. The following information has been collected on this investment: Old Equipment New Equipment Cost $80,240 Cost $38,000 Accumulated depreciation $40,300 Estimated useful life 8 years Remaining life 8 years Salvage value in 8 years $4,800 Current salvage value $9,920 Annual cash operating costs $29,900 Salvage value in 8 years $0 Annual cash operating costs $35,100 Depreciation is $10,030 per year for the old equipment. The straight-line depreciation method would be used for the new equipment over an eight-year period with salvage value of $4,800. Calculate the net present value assuming a 12% rate of return. (Ignore income taxes.) (If the net present value is negative, use either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g. 1.25124 and final answer to 0 decimal places, e.g. 5,275.)