A project has an initial requirement of $191,192 for new equipment and $9,745 for net working capital. The installation costs are expected to be $19,812. The fixed assets will be depreciated to a zero book value over the 4-year life of the project and have an estimated salvage value of $104,420. All of the net working capital will be recouped at the end of the project. The annual operating cash flow is $65,602 and the cost of capital is 12% What is the project's NPV if the tax rate is 26%?