You are asked to evaluate the following project for a corporation profitable ongoing operations. The required investment on January $1$ of this year is $$38,000.$ The firm will depreciate the investment at a CCA rate of $20$ percent. The firm is in the $40$ percent tax bracket.

The price of the product on January $1$ year $1$ is $$100$ per unit. That price will stay constant in real terms. Labour costs is $$18\mathrm{.}40$ per hour on January $1$ year $1.$ Labour costs will increase by $1\mathrm{.}5$ percent per year in real terms after year $1.$ Energy costs will be $$8\mathrm{.}75$ per physical unit on January $1$ year $1$; energy cost will increase at $2\mathrm{.}5$ percent per year in real terms after year $1.$ The inflation rate is $4\mathrm{.}4$ percent. The company sells all of its production in the year produced; revenue is received and costs are paid at year$-$end:

Year $1$ Year $2$ Year $3$ Year $4$

Physical production, in units $240480530240$

Labour input, in hours $1,2601,2601,2601,260$

Energy input, physical units $180180180180$

The risk$-$free nominal discount rate is $8\mathrm{.}4$ percent. The real discount rate for costs and revenues is $5\mathrm{.}4$ percent. Calculate the NPV of this project. $($Do not round intermediate calculations. Round the answer to $2$ decimal places. Negative amount should be indicated by a minus sign. Omit $ sign in your response.$)$

Net present value $