You work for a manufacturing firm that is considering a new product to add to its existing product line. After spending $250,000 on market research, you have determined that the project will have a 4-year life. You expect to sell 25,000 units per year at $8 per unit. Variable costs will be $3 per unit. The project will require new equipment valued at $30,000. This equipment will be depreciated using a 5-year MACRS schedule. Your tax rate is 21%. Net working capital will have to rise to $5,000 from the current level of $3,000 immediately. It drop to $4,000 in year 1 and to $3,000 in year 4. Your current manager earns $45,000 and will be transferred to the project. You will also hire a new manager at a salary of $30,000 per year. You plan to sell the equipment for $6,000 in year 4. Forecast the relevant cash flows and compute the NPV based on a discount rate of 8% (please make sure to label all of the cash flow line items). Indicate whether the project should be accepted.