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Suppose that Calloway golf would like to capitalize on Phil Michelson winning the Open Championship in 2013 by releasing a new putter. The new product

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Suppose that Calloway golf would like to capitalize on Phil Michelson winning the Open Championship in 2013 by releasing a new putter. The new product will require new equipment for $422,106.00 that will be depreciated using the 5-year MACRS schedule. The project will run for 2 years with the following forecasted numbers: Calloway has a 13.00% cost of capital and a 38.00% tax rate. The firm expects to sell the equipment after 2 years for a NSV of $136,454.00. What is the NPV of the project? Answer format: Currency: Round to: 2 decimal places

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