Andronicus Corporation $($AC$)$ has the following jumbled information about an investment proposal:

a$.$ Revenues in each of years $1-4=$$$30,000$

b$.$ Year $0$ initial investment $=$$$50,000$

c$.$ Inventory level $=$$$15,000$ in year $1,$$$16,500$ in year $2,$ and $$10,000$ in year $3$

d$.$ Production costs $=$$$10,000$ in each of years $1-4$

e$.$ Salvage value $=$$$13,000$ in year $4$

f$.$ Depreciation $=100\%$ immediate bonus depreciation

g$.$ Tax rate $=21\%$

h$.$ There is an additional $6-$month lag for all cash flows after year $0.$ For example, customers pay consistently with a $6-$month lag, as AC does for production costs, taxes, etc.

Draw up a set of cash flow forecasts as in Table $6\mathrm{.}4.$ If the cost of capital is $8\%,$ what is the project's NPV$?$ Assume that, if the project generates losses, those losses can be used to offset profits for tax purposes elsewhere in the business.

Note: Do not round your intermediate calculations. Round your final answer to the nearest whole dollar amount.

NPV

TABLE $6\mathrm{.}4$ IM&C$\text{'}$s guano project. Revised analysis with immediate expensing of investment expenditures.

$\backslash$table$[[$Panel A Capital Investment,Period$],[0,1,2,3,4,5,6,7],[1$ Investment in Fixed Assets,$-$$$12,000,,,,,,,],[2$ Sale of Fixed Assets,,,,,,,,$$1949$