XYZ is considering a project that would last for 3 years and have a cost of capital of 20.90 percent. The relevant level of net working capital for the project is expected to be $1,727.10 immediately (at year 0); $4,590.00 in 1 year; $14,800.00 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 47.80 percent. What is the net present value of this project? .

	Year 0	Year 1	Year 2	Year 3
Revenue	$ 0.00	$11,800.00	$10,300.00	$11,200.00
Costs	$ 0.00	$3,980.00	$3,830.00	$2,300.00
Depreciation	$ 0.00	$1,750.00	$1,710.00	$2,200.00
Cash flows from capital spending	$-7,220.00	$ 850.00	$ 640.00	$3,160.00