You are evaluating a capital project with a Net Investment of $95,000, which includes an increase in net working capital of $5,000. The project has a life of 9 years with an expected salvage value of $3,000. The project will be depreciated via simplified straight-line depreciation. Revenues are expected to increase by $20,000 per year and operating expenses by $4,000 per year. The firm's marginal tax rate is 40 percent and the cost of capital for this project is 8%. What is the net present value of this project? Round to the nearest penny. Do not include a dollar sign.
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