The following table presents sales forecasts for Golden Gelt Giftware. The unit price is $37. The unit cost of the giftware is $29.

Year	Unit Sales
1	21,800
2	30,100
3	12,700
4	4,800
Thereafter	0

It is expected that net working capital will amount to 24% of sales in the following year. For example, the store will need an initial (year 0) investment in working capital of 0.24 21,800 $37 = $193,584. Plant and equipment necessary to establish the giftware business will require an additional investment of $215,000. 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 4 years, the equipment will have an economic and book value of zero. The firm's tax rate is 35%. The discount rate is 11%. What is the net present value of the project?