Winthrop Company has an opportunity to manufacture and sell a new product for a five-year period. The company would need to purchase a piece of equipment for $145,000 that has a useful life of five years and zero salvage value. It would be depreciated for financial reporting and tax purposes using the straight-line method. Winthrop estimated the following annual costs and revenues for the new product: Annual revenues and costs: Sales revenues Variable expenses Fixed out-of-pocket operating costs $ 360,000 $ 200,000 $ 86,000 The company's tax rate is 30% and its after-tax cost of capital is 17%. Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using tables. Required: 1. Calculate the net present value of this investment opportunity. Note: Round your final answer to the nearest whole dollar. Answer is complete but not entirely correct. 2. Net present value 29,000