After spending $10,700 on cient-development, you hove just been offered a big production contract by a now client The contract wit add $203,000 to your revenues for each of the next five ynars and it will cost you $101,000 per year to make the addifional product. You will have to use some oxisting equipment and buy new equipment as wol. The existing equipment is fuly depreciated, but could bo sold for $48.000 now. If you use it in the project, it will be worthless at the end of the project You will buy new equipment valued at $35.000 and use the 5 -year MACRS echedule to depreclate it it wifl be worthless at the end of the project. Your current production manoger earns $79,000 per year. Since she is busy with ongoing projects, you are planning to hire an assistant at $38,000 per yoar to holp with the expansion. You will have to immediately increase your inventory from $20,000 to $30,000. it will roturn to $20,000 at the end of the project. Your company's tax rale is 21% and your dscount rate is 156%. What is the NPV of the contract? (Note: Assume that the equpment is put into use in year 1. ) Calcutate the free cash flows below for vears 0 throvoh 2. (Round to the nearest dollar.)