A company is considering a project that would require a $400,000 intial cash outflow at the beginning. The project is expected to generate cash inflows in the amount of $160,000 at the end of each of the project's 3 years. The company requires a 8.25% return on investment. Assume you were calculating the discounted paypack period for the project and needed to find the amount of the initial cost left to be recovered at the end of the first year on a discounted basis. What amount would you subtract from the project's $400,000 initial cost?