Your firm is considering a new investment project producing a new product. You expect to be able to sell 100,000 units per year over the next four years at a price of $95 per unit. Variable costs are expected to be $75 per unit, while fixed costs for the project are expected to be $85,000 per year. The project will require an immediate increase of $30,000 in net working capital and the level of net working capital will increase by 2% per year over the project life until returning to its original level at the end of year 4. The project requires $10.0 M for new machinery. This machinery will be depreciated straight-line (to zero) over 5 years for tax purposes. However, you expect to be able to sell it for $3.5 M upon completion of the project (at the end of year 4). The project will also make use of an existing asset that was purchased six years ago for $7.0 M. You estimate that this asset could be sold today for $0.5M (after taxes). The companys tax rate is 35%. If the cost of capital for the project is 8%, what is the projects NPV?