Tiny Tots Inc. wishes to expand the company's business by purchasing new equipment costing $51,898. The CCA on the equipment is 12%. In 13 years the equipment can be sold for $12,049. When this project is over, there will still be other assets in the CCA class. The new equipment is expected to save $22,839 before taxes per year and is expected to reduce working capital immediately by $22,642. This is a one-time reduction; working capital will not be recovered at the end of the project.

What is the NPV of this project? The relevant discount rate is 6.0% and the corporate tax rate is 31%. Assume that the half-year rule applies in the calculation of CCA expense. (Round your answer to nearest whole number)