A project has an initial requirement of $318,000 for fixed assets and $29,500 for net working capital. The fixed assets will be depreciated to a zero-book value over the four- year life of the project and have an estimated salvage value of $110,000. All of the net working capital will be recouped at the end of the project. The annual operating cash flow is $96,200 and the discount rate is 14%. What is the project's net present value if the tax rate is 34%?