You are asked to evaluate the following project for a corporation profitable ongoing operations. The required investment on January 1 of this year is $28,000. 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 $103 per unit. That price will stay constant in real terms. Labour costs is $13.10 per hour on January 1 year 1 . Labour costs will increase by 1 percent per year in real terms after year 1 . Energy costs will be $7.15 per physical unit on January 1 year 1 ; energy cost will increase at 2.5 percent per year in real terms after year 1 . The inflation rate is 3.1 percent. The company sells all of its production in the year produced; revenue is received and costs are paid at year-end: The risk-free nominal discount rate is 7.4 percent. The real discount rate for costs and revenues is 4.4 percent. Calculate the NPV of this project