Foley Systems is considering a new investment whose data are shown below. The equipment would be depreciated on a straight-line basis over the projects 3-year life, would have a zero salvage value, and would require some additional working capital that would be recovered at the end of the projects life. Revenues and other operating costs are expected to be constant over the projects life. What is the projects NPV? (Hint: Cash flows are constant in Years 1 to 3.)

WACC	10.0%
Net investment in fixed assets (basis)	$75,000
Required new working capital	$15,000
Straight-line deprec. rate	33.333%
Sales revenues, each year	$75,000
Operating costs (excl. deprec.), each year	$25,000
Tax rate	35.0%