Assume two projects have the following costs and benefits:

Year

$0$

$1$

$2$

$3$

Project$1$

Cost

$$1,000$

Project$1$

Benefit

$$400$

$$400$

$$500$

Project$2$

Cost

$$2,000$

Project$2$

Benefit

$$700$

$$700$

$$1000$

Answer the following questions $($one decimal only$)$:

Flag question: Question $3$

Question $33$ pts

Under the discount rate of $5\%,$ what is the NPV of project $1?$