Kodak Films is considering some new equipment whose data are shown below to replace their existing equipment which has a book value of $$0.$ The required equipment has a $3-$year tax life, and the accelerated rates for such property are $33\mathrm{.}33\%,44\mathrm{.}45\%,14\mathrm{.}81\%,$ and $7\mathrm{.}41\%$ for Years $1$ through $4$ and it would have a positive pre$-$tax salvage value at the end of Year $3,$ when the project would be closed down. Also, some new working capital would be required, but it would be recovered at the end of the project's life. Revenues and other operating costs are expected to be constant over the project's $3-$year life. What is the project's NPV$?($Consider if tax shield is needed or not$)$

WACC $11\%$

Cost of new equipment $($depreciable basis$)$ $$70,000$

Salvage value of old equipment $$4,000$

Required new working capital $$10,000$

Sales revenues, each year $$75,000$

Operating costs $($excl$.$ deprec.$),$ each year $$30,000$

Expected pretax salvage value new $$5,000$

Tax rate $35\%$