Purple$$ Construction is evaluating Project X$,$ a $2-$year project that would involve buying equipment for $$360,000$that would be depreciated to $$0$over $2$years using straight$-$line depreciation. Capital spending would be $$0$in year $1$ and the equipment would be sold for an after$-$tax cash flow of $$28,000$in year $2.$ Relevant revenues are expected to be $$312,000$in year $1$ and $$312,000$in year $2.$ Relevant variable costs for the project are expected to be $$92,000$in year $1$ and $$92,000$in year $2.$ Finally, the firm has no fixed costs in year $1$ and one fixed cost in year $2$ of the project. Yesterday, Purple$$ Construction signed a deal with Forest$$Partners to develop an advertising campaign. The terms of the deal require Purple$$ Construction to pay $$14,000$in $2$ years if Project X$$is pursued or $$30,000$in $2$ years if Project X$$is not pursued. The tax rate is $50$percent and the cost of capital for Project X$$is $11\mathrm{.}67$percent$.$ What is the net present value of Project X$?$