Blue$$ Ocean$$ Technology is evaluating a $2-$year project that would involve buying equipment for $$720,000$that would be depreciated using accelerated depreciation rates in years $1,2,3,$ and $4$ of $30\%,35\%,20\%,$ and $15\%,$ respectively. In years $1$ and $2,$ relevant revenue for the project is expected to be $$586,000$per year and relevant costs for the project are expected to be $$158,000$per year. Capital spending would be $$0$ in year $1$ and the equipment would be sold for $$292,000$in $2$ years. The tax rate is $40$percent and the cost of capital for the project is $11\mathrm{.}61$percent$.$ What is the net present value of the project?

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