Net present value method

The following data are accumulated by Geddes Company in evaluating the purchase of $120,000 of equipment, having a four-year useful life:

	Net Income		Net Cash Flow
Year 1	$46,000		$76,000
Year 2	20,500		50,500
Year 3	17,500		47,500
Year 4	4,000		34,000

Assuming that the desired rate of return is 10%, determine the net present value for the proposal. If required, round to the nearest dollar.

Net present value

$