A project has an initial requirement of $220,038 for new equipment and $13,936 for net working capital. The installation costs are expected to be $15,654. The fixed assets will be depreciated to a zero book value over the 4-year life of the project and have an estimated salvage value of $110,787. All of the net working capital will be recouped at the end of the project. The annual operating cash flow is $77,580 and the cost of capital is 13% What is the project's NPV if the tax rate is 25%?

Enter your answer rounded off to two decimal points.