Your CEO has asked you to evaluate whether the firm should launch a new product. Information provided by the consultant is as follows:

$20,000 has been spent on doing a market survey, and this cost has been incurred regardless of whether the project is done or not.

initial investment: $120,000 composed of $50,000 for the plant and $70,000 net working capital (NWC)

Profits of $33,000 every year for 3 years after which the project ends and NWC is recovered. No salvage value for the plant

For a discount rate of 10%, what is the NPV?