Magellen Industries is analyzing a new project. The data they have gathered to date is as follows:

Lower Bound

Expected Value

Upper Bound

Sales quantity

9500

10000

10500

Sales price per unit

$9.75

$10.00

$10.25

Variable cost per unit

$4.80

$5.20

$5.60

Fixed cost

$15,000.00

$18,000.00

$21,000.00

Initial requirement for equipment: $120,000

Depreciation: Straight-line to zero over the four-year life of the project with no salvage value.

Required rate of return: 15%

Marginal tax rate: 35%

What is the net present value under the best-case scenario?