FITCO is considering the purchase of new equipment. The equipment costs $355000, and an additional $112000 is needed to install it. The equipment will be depreciated straight-line to zero over a 5-year life. The equipment will generate additional annual revenues of $268000, and it will have annual cash operating expenses of $82000. The equipment will be sold for $85000 after 5 years. An inventory investment of $75000 is required during the life of the investment. FITCO is in the 40 percent tax bracket, and its cost of capital is 9 percent. What is the project NPV? Please show the formulas and do NOT use excel