Mooradian Corporation estimates that its required rate of return is 14.94 percent. The company is considering three mutually exclusive projects whose after-tax cash flows are as follows:

Year	Project S	Project L	Project K
0	($3,000.00)	($9,000.00)	($10,000.00)
1	$2,500.00	($1,000.00)	$2,000.00
2	$1,500.00	$5,000.00	$5,000.00
3	$1,500.00	$5,000.00	$5,000.00
4	($500.00)	$5,000.00	$2,500.00

What is the net present value of the project Mooradian should choose?