Today is January 1, 2021. Find the net present value of a project for which the initial investment of $3,030 is made today, and expected cash inflows are on January 1 in the years 2022, 2023, 2024, 2025, 2026. The first of these will be $700, and each one thereafter will be $70 higher than the preceding one. The risk-adjusted discount rate for this project Is 9.8%, compounded annually. Round your answer to the nearest cent.

* If possible, please show work not using excel*