118. (Calculating NPV and IRR) (Related to Checkpoint 11.1 on page 367) East Coast Television is considering a project with an initial outlay of $X (you will have to determine this amount). It is expected that the project will produce a positive cash flow of $50,000 at the end of each year for the next 15 years. The appropriate discount rate for this project is 10 percent. If the project has a 14 percent IRR, what is the projects NPV?