What is the projects NPV? (Round answer to 2 decimal places. Do not round intermediate calculations)

Atlantic Manufacturing is considering a new investment project that will last for four years. The delivered and installed cost of the machine needed for the project is $23,962 and it will be depreciated according to the three-year MACRS schedule. The project also requires an initial increase in net working capital of $306. Financial projections for sales and costs are in the table below. In addition, since sales are expected to fluctuate, NWC requirements will also fluctuate. The end-of-year NWC requirements are included below (hint: these NWC capital requirements DO NOT represent the change in NWC for the period). The $0 requirement for NWC at the end of year 4 means that all NWC is recovered by the end of the project. The corporate tax rate is 35% and the required return on the project is 12%.

Year 1 2 3 4

Sales $11,936 $12,458 $13,422 $10,908

Costs 2,053 2,782 3,386 1,223

NWC Requirements 333 356 227 0

What is the projects NPV? (Round answer to 2 decimal places. Do not round intermediate calculations)