Piper currently has an aftertax cost of capital of $12$ percent. Piper Inc is considering building and selling its own environmentally friendly cars. The sales manager of Piper Inc estimates that the carswould produce $20$ percent of the firm's future total sales. The initial cash outlay for this project would be $$85,000.$ The expected net cash inflows are $$17,000$ a year for $7$ years. What is the present value of the Piper project?