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 4 years. The equipment required for the project will be depreciated on a straight-line basis and has no salvage value. The required return for projects of this type is 12 percent and the company has a 21 percent tax rate. Pessimistic Market size 111,000 Market share 20% Selling price $ 156 Variable costs per $ 104 unit Fixed costs per year $ 976,000 Initial investment $1,354,000 Expected 121,000 24% $ 161 $ 100 $ 921,000 $1,204,000 Optimistic 133,000 26% $ 165 $ 97 $ 891,000 $1,184,000 Calculate the NPV for each case for this project. Assume a negative taxable income generates a tax credit. (A negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) * Answer is complete but not entirely correct. Pessimistic Expected Optimistic $ $ -709,456.16 1,030,575.10 X 2,512,359.10