USE THE FOLLOWING DATA TO ANSWER QUESTIONS $9$ & $10$:

Jim's Critter Removal, Inc., is thinking about buying a new processing system that will build a new type of mouse trap. They

have compiled the following data:

They expect to sell $100,000$ units per year

The sales price is expected to be $$4\mathrm{.}50$ each

Their variable cost per unit is estimated at $$1\mathrm{.}50$ each

Fixed production costs are estimated at $$100,000$

The system will cost $$500,000,$ and will be depreciated to $0$ straight$-$line over its expected $10$ year life.

They do not plan to sell the new system or any other assets at the end of the project

Net working capital requirements will be $$50,000$ in Year $0$; $50\%$ of this will be recovered in the terminal year of the

project

The project's Required Rate of Return is $15\%$

The tax rate is $21\%$

The project has a $5-$year time frame.

Q$9$: What is the Net Present Value of this project?

ROUND YOUR ANSWER TO $2$ DECIMAL PLACES; NOTE: THE CORRECT ANSWER IS NOT NEGATIVE