Steamboat Springs Furniture, Inc., is considering purchasing a new finishing lathe that costs $60,945.00. The lathe will generate revenues of $96,286.00 per year for five years. The cost of materials and labor needed to generate these revenues will total $48,422.00 per year, and other cash expenses will be $11,569.00 per year. The machine is expected to sell for $9,670.00 at the end of its five-year life and will be depreciated on a straight-line basis over five years to zero. Steamboat Springs' marginal tax rate is 36.00 percent, and its cost of capital is 13.00 percent.

What is the NPV of the project?