A project has an initial requirement of $212,907 for new equipment and $14,242 for net working capital. The installation costs to get the new equipment in working condition are 6,106. The fixed assets will be depreciated to a zero book value over the 5-year life of the project and have an estimated salvage value of $105,065. All of the net working capital will be recouped at the end of the project. The annual operating cash flow is $116,381 and the cost of capital is 10% What is the project's NPV if the tax rate is 35%?