Platinum Water Aviation is considering a project that would last for 3 years and have a cost of capital of 12.78 percent. The relevant level of net working capital for the project is expected to be 20,000 dollars immediately (at year 0); 14,000 dollars in 1 year; 30,000 dollars in 2 years; and 0 dollars in 3 years. Relevant expected operating cash flows and cash flows from capital spending in years 0, 1, 2, and 3 are presented in the following table. What is the net present value of this project?

Time 0

Year 1

Year 2

Year 3

Operating cash flows (in dollars)

0

44,000

53,000

42,000

Cash flows from capital spending (in dollars)

-78,000

0

0

17,000

Platinum Water Aviation is considering a project that would last for 3 years and have a cost of capital of 12.78 percent. The relevant level of networking capital for the project is expected to be 20.000 dollars immediately (at year O) 14,000 dollars in 1 year, 30,000 dollars in 2 years; and 0 dollars in 3 years Relevant expected operating cash flows and cash flows from capital spending in years 0,1,2, and 3 are presented in the following table. What is the net present value of this project? Time 0 Year 1 Year 2 Year 3 Operating cash flows (in dollars) 0 44,000 63.000 42.000 Cash flows from capital spending (in dollars) -78,000 0 0 17.000 Number