Part A. Time zero cash flow:

Ferrari NV, is evaluating a project the produce a new supercar. The anticipated cost of purchasing new equipment and facilities for the project is $5 to be paid at inception of the project. The equipment and facilities will be depreciated to $6 over the 8- year life of the project. Sales and operating expenses for the project are expected to be $8 and $2 respectively for each year of the project starting one year after inception. To support the new project, Ferrari will increase inventory, accounts payable, and accounts receivable by $5, $9, and $6 in each year of the project. At the end of the project, (in 8 years) Ferrari will sell the equipment and facilities for $8 and recover all working capital. Ferrari has a tax rate of 4%.

Find the project cash flow at time zero (inception)

Answer Format: INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry interim computations to at least 4 decimals.

Enter numerical answers as a positive or negative number rounded to 2 decimal places (###.##)