STM Inc. is considering a 4-year project with an initial cost of $540,739. The project will not directly produce sales but will reduce operating costs by $297,111 a year. The equipment is depreciated straight-line to a zero book value over the life of the project. At the end of the project, the equipment will be sold for an estimated $65,926. The tax rate is 37%. The project will require $25,441 in extra inventory for spare parts and accessories. STM requires a 8% rate of return.

What is the NPV of the project?

Round your response to the nearest dollar and input without the $ sign.