Consider the following debt$-$free project for a machine:

Physical Lifespan: $5$ years

Capital Expense, Year $0$: $$12,000$

EBITDA $/$ Year: $$7,000$

Cost of Capital: $8\mathrm{.}9\%$

Tax Rate: $25\%$

Depreciation Life: $4$ years

What is the value of this project? Report answers to four decimal places