A 5-yr project has an initial requirement of $114,625 for new equipment and $9,960 for net working capital. The fixed assets will be depreciated to a zero book value over 5 years and have an estimated salvage value of $24,773. All of the net working capital will be recouped at the end of the project. The annual operating cash flow is $58,012. The cost of capital is 9% and the tax rate is 32%. What is the net present value of the project?