Companies often come across projects that have positive NPV opportunities in which the company does not invest. Companies must evaluate the value of the option to invest in a new project that would potentially contribute to the growth of the firm. These options are referred to as growth options.

Consider the case of Hack Wellington Co$.$:

Hack Wellington Co$.$ is considering a three$-$year project that will require an initial investment of $$30,000.$ It has estimated that the annual cash flows for the project under good conditions will be $$70,000$ and $$11,000$ under bad conditions. The firm believes that there is a $60\%$ chance of good conditions and a $40\%$ chance of bad conditions.

If the firm is using a weighted average cost of capital of $13\%,$ the expected net present value $($NPV$)$ of the project is your answer to the nearest whole dollar.$)$

$($Note: Round