You have been requested to analyse the following project for Planet Enterprises. 

The life of the project is 5 years. 

The project requires an initial investment (at t = 0) of $37000 with straight-line depreciation over 5 years, at which time the machine will be worthless. . 

The project is expected to increase the sales by $25000 and maintain at that level over the whole economic life. 

The operating costs, excluding depreciation, is 35.0% of the amount of sales. 

There working capital will remain unchanged. 

Planet Enterprises has a target debt-value ratio of 0.45, a cost of equity of 15.0% and a before-tax cost of debt of 10.0%. 

The current project is somewhat riskier than the usual project the firm undertakes; management applies an adjustment factor of +2.0% to the cost of capital for such risky projects. 

The company's tax rate is 25.0%. 

1. What is the project's NPV? (Enter to 2 decimal places)