What is the NPV of the zippered-glove project? The project would require an initial investment in equipment of $752,000 and would last for either 3 years or 4 years (the date when the project ends will not be known until it happens and that will be when the equipment stops working in either 3 years from today or 4 years from today). The first annual operating cash flow of $137,000 is expected in 1 year, and annual operating cash flows of $137,000 per year are expected each year until the project ends in either 3 years or 4 years. In 1 year, the project is expected to have an after-tax terminal value of $816,000. The cost of capital for this project is 19.16 percent.