Palatial Products Inc $\begin{array}{cc}\text { Year }& \text { Annual cash flow }\\\hline1 & \$ 60000 \\2 & \$ 50000 \\3 & \$ 40000 \\4 & \$ 40000\end{array}$

Palatial Products Inc.is considering the purchase of a new industrial machine.The estimated cost of the machine is $150 000.The machine is expected to generate annual cash inflows for the next four years as follows:
$\begin{array}{cc}\text { Year }& \text { Annual cash flow }\\\hline1 & \$ 60000 \\2 & \$ 50000 \\3 & \$ 40000 \\4 & \$ 40000\end{array}$

The machine is not expected to have a residual value at the end of its useful life.The company uses a discount rate of 14 per cent.
Required: Compute the net present value of the machine.(Ignore income taxes)