You are considering the investment of $16,000 (today) in a lemonade stand.

Also, you expect the stand to generate the following future cash flows:

• At the end of year 1: $5,000
• At the end of year 2: $5,000
• At the end of year 3: $8,000
• At the end of year 4: $3,000

What is the NPV (Net Present Value) of this project, if you require a 18% rate of return?

(Answer to the nearest $0.01)

Please show how you got your answer.