A project is expected to create operating cash flows of $22,500 a year for three years and then $45,000 in year 4. The initial cost of the fixed assets is $55,000. These assets will be worthless at the end of the project. An additional $5,000 of net working capital will be required throughout the life of the project. What is the project's net present value if the required rate of return is 10%? Show all mathematical calculations by hand and do not use excel.