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XYZ is considering a project that would last for 3 years and have a cost of capital of 2 2 . 7 0 percent. The

XYZ is considering a project that would last for 3 years and have a cost of capital of 22.70 percent. The relevant level of net working capital for the project is expected to be $2,003.00 immediately (at year 0); $4,900.00 in 1 year; $15,900.00 in 2 years; and $0.00 in 3 years. Relevant expected revenue, costs, depreciation, and cash flows from capital spending in years 0,1,2, and 3 are presented in the following table. The tax rate is 46.40 percent. What is the net present value of this project?
\table[[,Year 0,Year 1,Year 2,Year 3,],[Revenue,$,0.00,$12,500.00,$14,000.00,$12,200.00
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