The forecasted inflation rate is 3.4% in period 1, 3.6% in period 2, 3.9% in period 3, 4.4% in period 4, 4.7% in period 5. For these expected cash flows, the appropriate REAL discount rate is 7.8% in period 1, 7.1% in period 2, 6.5% in period 3, 6.0% in period 4, and 5.4% in period 5. What is the net present value of this project?