PulseAudio Co. is considering expanding its studio. They would need new equipment that costs 350,000 that would be depreciated on a straight-line basis to a zero balance over the 5-year life of the project. The estimated pre-tax salvage value is 62,000. the project requires 35,000 initially for net working capital, all of which will be recouped atht he end of the project. The projected operating cash flow is 187,500 a year. What is the net present value of this project if the relevant discount rate is 15 percent and the tax rate is 35 percent.