The following table shows the expenditures for a project. It is presently the beginning of year 1, so the first payment of $23,958 is due now.
begin of year 1 | $23,958 | purchase materials |
begin of year 2 | $23,958 | purchase materials |
begin of year 2 | $15,972 | pay subcontractors |
begin of year 3 | $29,282 | pay subcontractors |
Revenue of $131,769 is received at the end of year 3.
Rounded to the nearest dollar, what is the net present value of the project if the opportunity cost of capital is 10%?