The contract will require an additional investment of $55,000 in working capital at the beginning of the first year and, of this amount, $35,000 will be returned to the Spartan Technology Company after six years. The investment will produce $80,000 in income before depreciation and taxes for each of the six years. The corporation is in a 25 percent tax bracket and has a 6 percent cost of capital. a. Calculate the net present value. (Do not round intermediate calculations and round your answer to 2 decimal places.)