You are asked to evaluate the following project for a corporation with profitable ongoing operations. The required investment on January 1 of this year is $34,000. 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 will be $102 per unit. That price will stay constant in real terms. Labour costs will be $16.20 per hour on January 1. They will increase at 1.5 percent per year in real terms. Energy costs will be $8.55 per physical unit on January 1; they will increase at 2.5 percent per year in real terms. The inflation rate is 3.3 percent. Revenue is received and costs are paid at year-end: Year 1 Year 2 Year 3 Year 4 Physical production, in units 200 400 450 200 Labour input, in hours 1,180 1,180 1,180 1,180 Energy input, physical units 180 180 180 180 The risk-free nominal discount rate is 8 percent. The real discount rate for costs and revenues is 5.0 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 $