Atlantic Manufacturing is considering a new investment project that will last for four years. The delivered and installe

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Atlantic Manufacturing is considering a new investment project
that will last for four years. The delivered and installed cost of
the machine needed for the project is $23,508 and it will be
depreciated according to the three-year MACRS schedule. The project
also requires an initial increase in net working capital of $302.
Financial projections for sales and costs are in the table below.
In addition, since sales are expected to fluctuate, NWC
requirements will also fluctuate.
The end-of-year NWC requirements are included
below (hint: these NWC capital requirements DO NOT
represent the change in NWC for the period). The
$0 requirement for NWC at the end of year 4 means that all NWC is
recovered by the end of the project. The corporate tax rate is 35%
and the required return on the project is 12%.
Year
1
2
3
4
Sales
$11,318
$12,013
$13,699
$10,735
Costs
2,213
2,597
3,114
1,474
NWC Requirements
324
360
215
0
What is the project’s NPV? (Round answer to 2 decimal
places. Do not round intermediate calculations).