A project has an initial, up-front cost of $10,000, at t = 0. The project is expected to produce cash flows of $2,200 for the next three years. The projects cash flows depend critically upon customer acceptance of the product. There is a 60% probability that the product will be wildly successful and produce CFs of $5,000, and a 40% chance it will produce annual CFs of -$2,000.

At a 10% WACC, what is this projects NPV with abandonment option? (Please write down the detailed steps or explanation, not just one number.)