Find the net present value (NPV) for a proposed project costing $22,748. Assume that the appropriate cost of capital for projects of this risk level, at this company is 12.56%, and the estimated cash flows for the life of the project are as follows:

Period	Initial Investment and Cash Flows
Year 0	- $22,748
Year 1	$ 4167
Year 2	$ 8524
Year 3	$ 5798
Year 4	$ 4758

Please enter the formula for your answer, exactly as you would enter it in Excel.

Use all capital letters in your formula and enter the rate as a percentage.

Example: =PMT(3%,8,-500,0)