Lander Company has an opportunity to pursue a capital budgeting project with a five$-$year time horizon. After careful study, Lander estimated the following costs and revenues for the project:

Cost of equipment needed $ $260,000$

Working capital needed $ $63,000$

Repair the equipment in two years $ $19,500$

Annual revenues and costs:

Sales revenues $ $380,000$

Variable expenses $ $195,000$

Fixed out$-$of$-$pocket operating costs $ $86,000$

The piece of equipment mentioned above has a useful life of five years and zero salvage value. Lander uses straight$-$line depreciation for financial reporting and tax purposes. The company$$s tax rate is $30\%$ and its after$-$tax cost of capital is $12\%.$ When the project concludes in five years the working capital will be released for investment elsewhere within the company.

Required:

Calculate the annual income tax expense for each of years $1$ through $5$ that will arise as a result of this investment opportunity.

Calculate the net present value of this investment opportunity.

Note: Negative amounts should be indicated by a minus sign. Round your final answer to the nearest whole dollar.