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A project will produce an operating cash flow of $13,500 a year for three years. The initial investment for fixed assets will be $17,600, which

A project will produce an operating cash flow of $13,500 a year for three years. The initial investment for fixed assets will be $17,600, which will be depreciated straight-line to zero over the asset's 4-year life. Ignore bonus depreciation. The project will require an initial $350 in net working capital plus an additional $350 every year with all net working capital levels restored to their original levels when the project ends. The fixed assets can be sold for an estimated $5,500 at the end of the project, the combined tax rate is 21 percent, and the required rate of return is 13 percent.

What is the net present value of the project? (Do not round your intermediate calculations. Round only your final answer up to 2 decimal places. Note: Your final answer must be in dollars without the $ sign at the beginning)

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