Suppose we are asked to decide whether or not a new product should be launched. It will cost about $4,000 at the beginning and $500 at the end of each year for production for the next five years. We use a 6 percent discount rate to evaluate new products. Based on expected sales and costs, we expect the cash flows over the five-year life of the project to be $1,700 in each of the first two years, $1,800 in each of the next two, and $2,000 in the last year. However, we suspect that a recession might happen in the future at a 25% probability which makes the cash flows of the projects as follows: $800 in each of the first two years, $900 in each of the next two, and $1,000 in the last year. Also, there is another possibility that one of our competitors leave the market with a probability of 15%. This will increase the base estimates of income cash flows by $400. To be very conservative, we take on this project only if the expected NPV is positive. What is the expected NPV of the project?

(Round off your answer to two decimal places. Do not put $ sign or commas. The system will put commas for you. If your answer is $123,456.789, then type 123456.79)