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Your firm is looking to invest in a project that has expected cashflows of $309,769

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Your firm is looking to invest in a project that has expected cashflows of $309,769.82 in the first year, $324,638.77 in the second year, $338,922.88 in the third year, $344,345.64 in the fourth year, $351,921.25 in the fifth year and they plan to close the project at that time. To start the project there is an initial investment of $428,674.84, and salvage value is expected to be 20% of the original investment (a cash-inflow in year 5).

The firm expects to invest capital in the project which has a weighted average cost of capital (WACC) of 9.70%, what is the net present value (NPV) of the project (ignore taxes)? (Place your answer (and work) in the boxes)