A four-year financial project has net cash flows of $10,000; $15,000; $20,000 and $40,000 respectively in the next four years. It will cost $40,000 to implement the project. If the required rate of return is 0.25, conduct a discounted cash flow calculation to determine the NPV. Assume the cost is recognized on the first day of the project and the incomes at yearly intervals thereafter, starting one year from the project start.