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Petro Corporation has provided the following information concerning a capital budgeting project: 11% 30% 4 After-tax discount rate Tax rate Expected life of the project Investment required in equipment 80,000 Salvage value of equipment Working capital requirement Annual sales Annual cash operating expenses$140,000 $ 20,000 $180,000 The working capital would be required immediately and would be released for use elsewhere at the end of the project. The company uses straight-line depreciation on all equipment. Assume cash flows occur at the end of the year except for the initial investments. The company takes income taxes into account in its capital budgeting Click here to view Exhibit 13B-1, to determine the appropriate discount factor(s) using the table provided. Required: Determine the net present value of the project. Show your work