The Sicilian Loan Company is considering opening a new office, and the relevant data are shown below. The company owns the building, free and clear, and would sell it for $100,000 after taxes if it decides not to open the new loan office. The equipment that would be used has a 3-year tax life, would be depreciated by the straight line method over the project's 3-year life, and would have a zero salvage value. No new working capital would be required, and revenues and other operating costs would be constant over the project's 3-year life. What is the project's NPV? (Hint: Cash flows are constant in Years 1-3.) WACC 10% Opportunity cost $100,000 Net equipment cost (depreciable basis) $65,000 Straight line deprn rate 33.33% Sales revenues $110,000 Operating costs excl. deprn $25,000 Tax rate 35%