Check my work 5 Problem 9-34 Project Evaluation (L04) The following table presents sales forecasts for Golden Gelt Giftware. The unit price is $40. The unit cost of the giftware is $20. 20 points eBook Year 1 2 3 4 Thereafter Unit Sales 30,000 38,000 12,000 6,000 0 Print References It is expected that net working capital will amount to 30% of sales in the following year. For example, the store will need an initial (Year 0) investment in working capital of .30 30,000 * $40 = $360,000. Plant and equipment necessary to establish the giftware business will require an additional investment of $208,000. This investment will be depreciated using MACRS and a 3-year life. After 4 years, the equipment will have an economic and book value of zero. The firm's tax rate is 21%. What is the net present value of the project? The discount rate is 15%. Use the MACRS depreciation schedule. (Do not round intermediate calculations. Round your answer to the nearest whole dollar amount.) Net present value