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 $$407,064\mathrm{.}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 $15\mathrm{.}00\%$ cost of capital and a $40\mathrm{.}00\%$ tax rate. The firm expects to sell the equipment after $2$ years for a

NSV of $$172,186\mathrm{.}00.$

What is the NPV of the project?

Answer format: Currency: Round to: $2$ decimal places.