Your boss is considering a 4-year investment project.

If the project is accepted, it would require an immediate spending of $601 to buy all necessary production equipment. This equipment would be sold at the end of the project and bring your company estimated $119 in sale proceeds after taxes (or after-tax salvage value).

Your boss's consulting team estimated that the annual after-tax profits (or operating cash flows) would equal $158.

The team also recommends immediately setting aside $51 in cash to cover any unforeseen expenses.

The required annual rate of return is 9%.

Calculate the Net Present Value of this proposed investment project. If your answer is negative, don't forget the minus sign!