$7)$TechFusion is evaluating Project X$,$ a $2-$year project that would involve buying equipment for $$100,000$ that would be depreciated to zero over $2$ years using straight$-$line depreciation. Cash flows from capital spending would be $$0$ in year $1$ and $$30,000$ in year $2.$ Relevant annual revenues are expected to be $$110,000$ in year $1$ and $$100,000$ in year $2.$ Relevant expected annual variable costs from the project are expected to be $$30,000$ in year $1$ and $$30,000$ in year $2.$ Finally, the firm has no fixed costs in year $1$ and one fixed cost in year $2$ of the project. Yesterday, TechFusion signed a deal with BlueSky Marketing to develop an advertising campaign. The terms of the deal require TechFusion to pay BlueSky Marketing either $$40,000$ in $2$ years from today if Project X is pursued or $$28,000$ in $2$ years from today if Project X is not pursued. The tax rate is $35$ percent and the cost of capital for Project X is $12$ percent. What is the net present value $($NPV$)$ of Project X$?$