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A corporate expects to receive $36,012 each year for 15 years if a particular project is undertaken. There will be an initial investment of $106,814.

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A corporate expects to receive $36,012 each year for 15 years if a particular project is undertaken. There will be an initial investment of $106,814. The expenses associated with the project are expected to be $7,268 per year. Assume straight-line depreciation, a 15- year useful life, and no salvage value. Use a combined state and federal 48% marginal tax rate, MARR of 8%, determine the project's after-tax net present worth. Enter your answer as follow: 123456.78

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