Avignon Restaurant is considering the purchase of a $11,000 souffl maker. The souffl maker has an economic life of four years and will be fully depreciated by the straight-line method. The machine will produce 2,500 souffls per year, with each costing $2.90 to make and priced at $5.75. Assume that the discount rate is 16 percent and the tax rate is 25 percent.

What is the NPV of the project?