Please DO NOT round any intermediate calculations. Please show at least 2 decimal points for dollar amounts and at least 4 significant digits for rates.

Question 2 GTX Inc. is evaluating a nine-year project. The project requires a new equipment that costs $195,000. The CCA rate of the equipment is 20%. The salvage value is estimated to be $24,000 at the end of the project. The revenues and operating costs are $85,000 and $37,500 in the first year and increase 3% and 4% per year respectively. The initial net working capital requirement of the project is $75,000, increases to $110,000 at the end of year 6 , and be totally recovered at the end of the project. The equipment is the only asset in the asset class. If the tax rate is 30% and the discount rate is 10%, determine the NPV of this project