A magazine publisher wants to launch a new magazine geared to college students. The project's initial investment is $560. The project's cash flows that come in at the end of each year are $170 for 14 consecutive years beginning one year from today.
What is the project's NPV if the required rate of return is 8.25%?
Place your answer in dollars and cents without the use of a dollar sign or comma.
If applicable, a negative answer should have a "minus" sign in front of the number. Work your analysis out to at least 4 decimal places of accuracy.