Hadden Corporation is evaluating a capital investment opportunity. This project would require an initial investment of $44,000 to purchase equipment. The equipment will have a residual value at the end of its life of $5,000. The useful life of the equipment is 3 years. The new project is expected to generate additional net cash inflows of $25,000 per year for each of the three years. The company's required rate of return is 12%. The net present value of this project is closest to: