A project has an initial requirement of $176,772 for new equipment and $11,134 for net working capital. The installation costs are expected to be $14,442. The fixed assets will be depreciated to a zero book value over the 4-year life of the project and have an estimated salvage value of $123,456. All of the net working capital will be recouped at the end of the project. The annual operating cash flow is $88,581 and the cost of capital is 10% What is the project's NPV if the tax rate is 27%? Enter your answer rounded off to two decimal points.