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 four 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 12 percent, and the company has a 34 percent tax rate.

PessimisticExpectedOptimisticMarket size121,000136,000161,000Market share21%24%26%Selling price$144$149$155Variable costs per unit$98$93$92Fixed costs per year$959,000$914,000$884,000Initial investment$1,248,000$1,180,000$1,112,000

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$