(Ignore income taxes in this problem.) Farah Corporation has provided the following data concerning a proposed investment project:
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| Initial investment |
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$ |
500,000 |
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| Life of the project |
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9 years |
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| Working capital required |
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$ |
17,000 |
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| Annual net cash inflows |
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$ |
100,000 |
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| Salvage value |
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$ |
56,000 |
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The company uses a discount rate of 12%. The working capital would be released at the end of the project.
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| Required: |
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Compute the net present value of the project. (Round "PV Factor" to 3 decimal places. Round your other intermediate calculations and final answers to the nearest whole dollar.
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