Yuo are considering an investment in a rental property. The property costs $291,000. You estimate that you can make $70,000 per year in rental income after expenses. You plan to keep the property for 8 years, and you think you can sell the property for about $536,000 in 8 years.
If you require a 8% return to make this investment, what is the NPV of this investment? Answer to 2 decimal places