Question: A restaurant is considering a project with an initial cost of $235,843. The project will not produce any cash flows for the first three years.

A restaurant is considering a project with an initial cost of $235,843. The project will not produce any cash flows for the first three years. Starting in Year 4, the project will produce cash inflows of $185,687 a year for three years. This project is risky, so the firm has assigned it a discount rate of 12.2%. What is the project's net present value? Round your answer to 2 decimal places.

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