Bing Enterprises, Inc., has been considering the purchase of a new manufacturing facility for $$278,000.$ The facility is to be fully depreciated on a straight$-$line basis over seven years. It is expected to have no resale value after the seven years. Operating revenues from the facility are expected to be $$113,000,$ in nominal terms, at the end of the first year. The revenues are expected to increase at the inflation rate of $5$ percent. Production costs at the end of the first year will be $$38,000,$ in nominal terms, and they are expected to increase at $6$ percent per year. The real discount rate is $8$ percent. The corporate tax rate is $23$ percent.

Calculate the NPV of the project.