A project has an initial requirement of $248,634 for new equipment and $10,472 for net working capital. The installation costs are expected to be $11,957. 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 $71,227. All of the net working capital will be recouped at the end of the project. The annual operating cash flow is $79,430 and the cost of capital is 5% What is the project's NPV if the tax rate is 34%?

Please show your work, if in Excel show the formulas. Thanks,