A firm is deciding whether or not to pursue a new 5-year project that requires an initial outlay of $750,000 for construction and equipment, with no salvage value. Additional working capital investment of $40,000 is also required at the start of the project, which will be recovered by the firm at the project's conclusion. After conducting market research last year at a cost of $75,000, the firm expects incremental after-tax cash flows of the new project to start off at $135,000, and to grow by $25,000 every year through the project's conclusion. If the firm's cost of capital is 7.5%, what is the net present value (NPV) of the project, and should the project be pursued