A project is expected to create operating cash flows of $31,468 a year for three years. The initial cost of the fixed assets is $42,673. These assets will be depreciated straight line to 0 over the life of the project, and sold for $6,194 at the end. An additional $8,059 of net working capital will be required throughout the life of the project, and will be recouped at the end. The company's tax rate is 21%.

required:

What is the project's net present value if the required rate of return is 11.3 percent?