A Corporation has provided the following information concerning a capital budgeting project: After-tax discount rate Tax rate Expected life of the project Investment required in equipment Salvage value of equipment Working capital requirement Annual sales Annual cash operating expenses One-time renovation expense in vear 3 14% 3000 $80,000 S0 S10,000 S220,000 S170,000 S20,000 The working capital would be required immediately and would be released for use elsewhere at the end of the project. The company uses straight-line depreciation on all equipment. Assume cash flows occur at the end of the year except for the initial investments. The company takes income taxes into account in its capital budgeting. What is the net present value of the entire project