A corporate expects to receive $37236 each year for 15 years if a particular project is undertaken. There will be an initial investment of $117104. The expenses associated with the project are expected to be $7476 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.