15. The Bright Company is evaluating a project, which will cost *100,000 and will have no salvage value at the end of its 5-year life. The project will save costs of 40,000 a year. The company will finance the project by a 14 per cent loan and will repay loan in equal instalments of *20,000 a year. If the firm's tax rate is 50 per cent and the after-tax cost of capital is 18 per cent, what is the NPV of the project? Assume straight-line depreciation for tax purposes.