Chad lives in Tulsa, Oklahoma and makes $50,000 per year at his current job selling luxury real estate. Assume that Chad knows for sure that he would make $50,000 per year at his current job for the next 3 years. Chad is considering whether to quit his current job and start his own media company. Last spring, he spent $10,000 conducting market research to determine whether the new media company would be viable. His research shows that the new project will have a $20,000 initial cost today (period 0) and generate $50,000 per year for the next 3 years. What is the NPV of Chad's project if the discount rate is 5%?