23. ABC Inc. has provided the following data concerning an investment project that has been proposed: Initial investment $190.000 Annual cash receipts $114,000 Life of the project 9 years Annual cash expenses $51.000 Salvage value $10.000 The company's tax rate is 30%. For tax purposes, the entire initial investment will be depreciated over 7 years without any reduction for salvage value. The company uses a discount rate of 19%. The net present value of the project is closest to