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 $424,187.00 that will be depreciated using the 5- year MACRS schedule. The project will run for 2 years with the following forecasted numbers: Putter price Units sold COGS Selling and Administrative Year 1 $60.23 Year 2 $60.23 19,784.00 10,781.00 42.00% of sales 42.00% of sales 20.00% of sales 20.00% of sales Calloway has a 13.00% cost of capital and a 39.00% tax rate. The firm expects to sell the equipment after 2 years for a NSV of $148,178.00. What is the NPV of the project? Submit Answer format: Currency: Round to: 2 decimal places. Hide Hint