A project has an initial requirement of $209,253 for new equipment and $11,366 for net working capital. The installation costs to get the new equipment in working condition are 4,272. The fixed assets will be depreciated to a zero book value over the 5-year life of the project and have an estimated salvage value of $108,590. All of the net working capital will be recouped at the end of the project. The annual operating cash flow is $71,531 and the cost of capital is 9% What is the project's NPV if the tax rate is 37%?
Enter your answer rounded off to two decimal points. Do not enter $ or comma in the answer box. For example, if your answer is $12.345 then enter as 12.35 in the answer box.