The following table presents sales forecasts for Golden Gelt Giftware. The unit price is $40. The unit cost of the giftware is $25.

Year	Unit Sales
1	24,000
2	40,000
3	24,000
4	5,000
Thereafter	0

It is expected that net working capital will amount to 20% of sales in the following year. For example, the store will need an initial (Year 0) investment in working capital of .20 24,000 $40 = $192,000. Plant and equipment necessary to establish the giftware business will require an additional investment of $250,000. This investment will depreciate on the MACRS schedule over 3 years. After 4 years, the equipment will have an economic and book value of zero. The firms tax rate is 30%. The discount rate is 20%. Use the MACRS depreciation schedule.

a. What is the net present value of the project?

Note: Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.