If the cost of capital for the project shown below is 2.5 percentage points less than the project's IRR (for example, if the project's IRR is 12%, the cost of capital is 9.5%), what is the NPV of the project?

Year Cash Flow

0 ($210,000)

1 $40,000

2 $50,000

3 $60,000

4 $60,000

5 $70,000

6 $70,000