Suppose your company is considering upgrading its factory so that it can increase its productivity. The upgrades will cost $50,000 but will result in additional incremental cash flows of $30,000 in year 1, $25,000 in year 2, and $10,000 in year 3. After that time there will be no incremental benefit from the upgrades. The company's cost of capital is 7%.

What is the Net Present Value of this project?