Elemental is considering another project which requires new equipment at a cost of $70,000. The equipment has a 3 year tax life and will be fully depreciated by the straight-line method over 3 years. When the project closes down at the end of the third year, it is expected to sell for $5000 before taxes. The project will require new working capital of $10000, and is expected to be fully recovered at the end of the project's life. Project revenues of $75000 and operating costs of $30000 apart from depreciation ar forecast. No inflation is expected. The firm faces a tax rate of 35% and the project has a discount rate of 10%. what is the NPV of the project?