Germaine Metals is considering installing a new molding machine which is expected to produce operating cash flows of $58,900 per year for 7 years. At the beginning of the project, inventory will increase by $18,400, accounts receivables will increase by $18,200, and accounts payable will increase by $16,900. At the end of the project, net working capital will return to the level it was prior to undertaking the new project. The initial cost of the molding machine is $255,000. The equipment will be depreciated straight-line to a zero book value over the life of the project. The equipment will be salvaged at the end of the project creating an aftertax cash flow of $45,200. What is the net present value of this project given a required return of 11.3 percent?

Change in NWC = $

CF0 = $

CF7 = $

NPV = $