A project is expected to sell one million units initially at a price per unit of $16.50 and a cost per unit of $6.50. Units sold will increase by 10% each year over the project's 3 year life. Inventory each year will be equal to 15% of the next year's forecasted sales, and accounts payable will be equal to 20% of cost of goods sold in the current year. If the cost of capital is 12%, then what is the present value of the changes in net working capital over the life of the project?