An all equity financed project has a $5-$year life and is expected to generate the following net income:

year $1$: $$51$

year $2$: $$41$

year $3$: $$94$

year $4$: $$104$

year $5$: $$81$

The project has no investment in property, plant and equipment $($the production facilities are leased$).$

There is a time $0$ investment in net working capital for the project of $$12$ and then as follows over the life of the project:

year $1$: $$13$

year $2$: $$15$

year $3$: $$18$

year $4$: $$16$

year $5$: $$19$

All working capital accounts are zeroed out immediately at the end of the project.

The project cost of capital is $8\mathrm{.}2\%.$ The tax rate is $15\%.$

How much lower is the project NPV calculated based on expected cash flows vs the project NPV based on expected NI$?$ Give your answer to the nearest whole dollar.An all equity financed project has a $5-$year life and is expected to generate the following net income:

year $1$: $$51$

year $2$: $$41$

year $3$: $$94$

year $4$: $$104$

year $5$: $$81$

The project has no investment in property, plant and equipment $($the production facilities are leased$).$

There is a time $0$ investment in net working capital for the project of $$12$ and then as follows over the life of the project:

year $1$: $$13$

year $2$: $$15$

year $3$: $$18$

year $4$: $$16$

year $5$: $$19$

All working capital accounts are zeroed out immediately at the end of the project.

The project cost of capital is $8\mathrm{.}2\%.$ The tax rate is $15\%.$

How much lower is the project NPV calculated based on expected cash flows vs the project NPV based on expected NI$?$ Give your answer to the nearest whole

dollar.