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 $418,451.00 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 14.00% cost of capital and a 39.00% tax rate. The firm expects to sell the equipment after 2 years for a NSV of $161,979.00. What is the project cash flow for year 1 ? Answer format: Currency: Round to: 2 decimal places