A project requires an initial investment in equipment of $$90,000$ and then requires an initial investment in working capital of $$10,000($at t $=0).$ You expect the project to produce sales revenue of $$120,000$ per year for three years. You estimate manufacturing costs at $60$ percent of revenues. $($Assume all revenues and costs occur at year$-$end $[$i$.$e$.,$ t $=1,$ t $=2,$ and t $=3]).$ The equipment depreciates using straight$-$line depreciation over three years. At the end of the project, the firm can sell the equipment for $$10,000$ and also recover the investment in net working capital. The corporate tax rate is $21$ percent and the cost of capital is $12$ percent.

Calculate the NPV of the project.