A project requires a $$45,000$ initial investment and is expected to generate end$-$of$-$period annual cash inflows of $$20,500$ for each of three years. Assuming a discount rate of $11\%,$ what is the net present value of this invesstment? Selected present value factors for a single sum are shown in the table below:

$i=11\%,i=11\%,i=11\%$

$n=1,n=2,n=3$

$0\mathrm{.}9009,0\mathrm{.}8116,0\mathrm{.}7312$