Atlantic Manufacturing is considering a new investment project that will last for four years. The delivered and installed cost of the machine needed for the project is $22,522 and it will be depreciated according to the three-year MACRS schedule. The project also requires an initial increase in net working capital of $294. Financial projections for sales and costs are in the table below. In addition, since sales are expected to fluctuate, NWC requirements will also fluctuate. Theend-of-yearNWC requirements are included below(hint: these NWC capital requirements DO NOT represent the change in NWC for the period). The $0 requirement for NWC at the end of year 4 means that all NWC is recovered by the end of the project. The corporate tax rate is 35% and the required return on the project is 12%.

Year

1

2

3

4

Sales

$11,970

$12,805

$13,673

$10,344

Costs

2,332

2,936

3,292

1,188

NWC Requirements

330

359

232

0

What is the project's NPV?(Round answer to 2 decimal places. Do not round intermediate calculations).