lakeside winery is considering expanding its winemaking operations. the expansion will require new equipment costing $65

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lakeside winery is considering expanding its winemaking operations. the expansion will require new equipment costing $653,000 that would be depreciated on a straight-line basis to zero over the 6-year life of the project. the equipment will have a market value of 170,000 at the end of the project. the project requires 40,000 initally for net working capital, which will be recovered at the end of the project. the operating cash flow will be 147,600 a year. what is the net present value of this project if the revelant discount rate is 12 percent and the tax rate is 40 percent