Floyd Brothers Ltd is considering the purchase of a two-ton press which will allow the firm to stamp out auto fenders. The equipment costs $350,000. The project is expected to produce after-tax cash flows of $80.000 the first year and increase by $9,000 annually. the after-tax cash flow in the following 3 years. Liquidation of the equipment will net the firm $15,000 in cash at the end of the fourth year. Assume the required return is 15%. What is the project's net present value? Draw a time line explain.