We are evaluating a project that costs $118,401, has a seven-year life, and has no salvage value. Assume that depreciation is straight-line to zero over the life of the project. Sales are projected at 4,054 units per year. Price per unit is $48, variable cost per unit is $20, and fixed costs are $81,017 per year. The tax rate is 35 percent, and we require a 10 percent return on this project.

Suppose the projections are given for price, quantity, variable costs, and fixed costs are all accurate to within +/-11 percent. What is the NPV of the project in the worst-case scenario?