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 following table 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		111,000				126,000				151,000
	Market share		20	%			23	%			25	%
	Selling price	$	156			$	161			$	167
	Variable costs per unit	$	110			$	105			$	104
	Fixed costs per year	$	971,000			$	926,000			$	896,000
	Initial investment	$	1,938,000			$	1,836,000			$	1,734,000

Calculate the NPV for each case for this project. Assume a negative taxable income generates a tax credit. (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		$

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