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The following table presents sales forecasts for Golden Gelt Giftware. The unit price is $32. The unit cost of the giftware is $21. YearUnit Sales

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The following table presents sales forecasts for Golden Gelt Giftware. The unit price is $32. The unit cost of the giftware is $21. YearUnit Sales 22,600 26,700 15,600 4,100 4 Thereafter It is expected that net working capital will amount to 26% of sales in the following year. For example, the store will need an initial year 0) investment in workingcapital f0.26x22 600x 32= $188,032. Plant and equipment necessary to establish the giftware business This investment will be depreciated in an asset class with a CCA rate of 25%. We will assume that the firm has other assets in this asset class. After four years, the equipment will have an economic and book value of zero. The firm's tax rate is 35%. The discount rate is 19% will require an additional investment of $199,000 What is the net present value of the project? (Round your answer to the nearest cent.)

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