Project $x$ involves a new type of graphite composition in$-$line skate wheel. We think we can

sell $1,500$ units per year at a price of $$800$ each. Variable costs will run about $$400$ per unit, and

the product should have a three$-$year life. Fixed costs for the project will run $$250,000$ per year.

Further, we will need to invest a total of $$930,000$ in manufacturing equipment, which falls into

the three$-$year MACRS class. The required rate of return is $15$ percent and the tax rate is $21$

percent. In three years, the equipment will be worth about one fourth of what we paid for it$.$ At

the beginning of the project, we will have to invest $$200,300$ in net working capital. All

additional investments in net working capital will be recovered at the end of the project. What is

the project's NPV$?$