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You are the financial analyst for a tennis racket manufacturer. The company is considering using a graphitelike material in its tennis rackets. The company has estimated the information in the following table about the market for a racket with the new material. The company expects to sell the racket for four years. The equipment required for the project has no salvage value and will be depreciated on a straight-line basis. The required return for projects of this type is 12 percent, and the company has a 34 percent tax rate. Pessimistic Expected Optimistic Market size 121,000 136,000 161,000 Market share 21% 24% 26% Selling price $ 144 $ 149 $ 155 Variable costs per unit 98 $ 93 92 Fixed costs per year $ 959,000 $ 914,000 $ 884,000 Initial investment $1,248,000 $1,180,000 $1,112,000 $ Calculate the NPV for each case for this project. Assume a negative taxable income generates a tax credit. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) Pessimistic Expected Optimistic A A A