A project has an initial requirement of $229,025 for new equipment and $9,004 for net working capital. The fixed assets will be depreciated to a zero book value over the 3-year life of the project and have an estimated salvage value of $82,095. All of the net working capital will be recouped at the end of the project. The annual operating cash flow is $78,895 and the cost of capital is 9% What is the project's NPV if the tax rate is 37%?