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Problem 9-34 Project Evaluation (L04) The following table presents sales forecasts for Golden Gelt Giftware. The unit price is $20. The unit cost of the giftware is $10. Year 1 2 3 Unit Sales 25,000 33,000 17.000 8.000 0 Thereafter it is expected that not working capital will amount to 20% of sales in the following year For example, the store will need an initial Year C) investment in working capital of 20 * 25.000 $20 - $100.000 plant and equipment necessary to establish the giftware business will require an additional investment of $220,000. 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 10%. Use the MACRS depreciation schedule. (Do not round Intermediate calculations. Round your answer to the nearest whole dollar amount.) Answer is complete but not entirely correct. Net present value S 335,215