A company is considering a three-year investment project and will use a cost of capital of 10% p.a. to evaluate it. The project will cost $180,000 upfront (year 0) and the company's corporate tax rate is 30%. The project team has prepared the following incremental cash flow projections for this project. Year 1 Year 2 Year 3 Sales revenues $400,000 $400,000 $400,000 Cost of goods sold (70% of revenues) $280,000 $280,000 $280,000 Depreciation expense $60,000 $60,000 $60,000 Change in net working capital +$15,000 +$15,000 -$30,000 Calculate the project's net present value. Show all calculations