#16 Suppose that Calloway golf would like to capitalize on Phil Michelson winning the Open Championship in 2013 by releasing a new putter. The new product will require new equipment for $414,308.00 that will be depreciated using the 5- year MACRS schedule. The project will run for 2 years with the following forecasted numbers: unanswered not_submitted Attempts Remaining: Infinity Year 1 Year 2 Putter price $61.09 $61.09 Units sold 18,506.00 11,664.00 COGS 38.00% of sales 38.00% of sales Selling and Administrative 20.00% of sales 20.00% of sales Calloway has a 14.00% cost of capital and a 38.00% tax rate. The firm expects to sell the equipment after 2 years for a NSV of $174,388.00. What is the NPV of the project? Submit Answer format: Currency: Round to: 2 decimal places