You are the financial analyst for a tennis racket manufacturer. The company is considering using a graphitelike material in its tennis rackets. The company has estimated the information in the table below about the market for a racket with the new material. The company expects to sell the racket for six years. The equipment required for the project has no salvage value and will be depreciated on a straight-line basis. The required return for projects of this type is 13 percent, and the company has a 40 percent tax rate. Pessimistic Expected Optimistic Market size 114,000 129,000 154,000 Market share 20 % 23 % 25 % Selling price $ 159 $ 164 $ 170 Variable costs per unit $ 113 $ 108 $ 107 Fixed costs per year $ 974,000 $ 929,000 $ 899,000 Initial investment $ 1,956,000 $ 1,854,000 $ 1,752,000 Calculate the NPV for each case for this project. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)

Pessimistic $

Expected $

Optimistic $