Godo Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The company's discount rate is18%. After careful study, Oakmont estimated the following costs and revenues for the new product:Cost of equipment neededWorking capital neededOverhaul of the equipment in two yearsSalvage value of the equipment in four yearsAnnual revenues and costs:Sales revenues$ 220,000$70,000$ 6,000$ 17,000$ 350,000$ 170,000Variable expensesFixed out-of-pocket operating costs$ 80,000When the project concludes in four years the working capital will be released for investment elsewhere within the company.Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using tables.Required:Calculate the net present value of this investment opportunity. (Round your final answer to the nearest whole dollar amount.)Net present value

Oakmont Company has an opportunity to manufacture and sell a new product for a four-year period. The company's discount rate is 18%. After careful study, Oakmont estimated the following costs and revenues for the new product: Cost of equipment needed Working capital needed Overhaul of the equipment in two years Salvage value of the equipment in four years Annual revenues and costs: Sales revenues $ 220,000 $ 70,000 $ 6,000 $ 17,000 $ 350,000 Variable expenses $ 170,000 Fixed out-of-pocket operating costs $ 80,000 When the project concludes in four years the working capital will be released for investment elsewhere within the company. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using tables. Net present value Required: Calculate the net present value of this investment opportunity. (Round your final answer to the nearest whole dollar amount.)