Ennis Inc is considering an update to their existing economy printer line. The project will cost $574 today to purchase equipment that they will depreciate to zero over the 12-year life of the project using straight-line depreciation. Ennis anticipates that the update will generate $728 in new revenue and will increase operating expenses by $370 each year of the project. The project will also require a commitment of $149.43 in current assets and $128.06 in current liabilities for each year of the project. This means current assets and liabilities will increase in the first year of the project and then stay constant over the project life. Find the project cash flow for the first year of the project if Ennis has a tax rate of 49.52%.

Note: think about how cash flows would or would not change at time zero and at the end of the project.

Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals.

Enter numerical answers as a positive or negative number rounded to 2 decimal places (###.##)