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 $423,949.00 that will be depreciated using the 5-year MACRS schedule. The project will run for 2 years with the following forecasted numbers:

	Year 1	Year 2
Putter price	$64.80	$64.80
Units sold	19,646.00	10,072.00
COGS	41.00% of sales	41.00% of sales
Selling and Administrative	18.00% of sales	18.00% of sales

Calloway has a 12.00% cost of capital and a 39.00% tax rate. The firm expects to sell the equipment after 2 years for a NSV of $163,397.00.

What is the project cash flow for year 2? (include the terminal cash flow here)