The Hokie Corporation is considering two mutually exclusive projects. Both require an initial outlay of 13000 and will operate for 7 years. Project A will produce expected cash flows of $3000 per year for years 1 through , whereas project B will produce expected cash flows of $4000 per year for years 1 through 7. Because project B is the riskier of the two projects, the management of Hokie Corporation has decided to apply a required rate of return of 18 percent to its evaluation but only a required rate of return 8 percent to project A. Determine each project's risk-adjusted net present value.

What is the risk-adjusted NPV of project A?