QAZ. is considering a 7-year project which requires the purchase of a $349,100 machine. This machine is the only asset in the asset class (CCA rate of 26%) and will be sold for $90,000 when the project ends. The project is expected to generate cash flows before tax of $204,000 per year for 7 years. The project has the same risk as the existing assets of the firm and the firms target debt-equity ratio is 0.5. The weighted average cost of capital is 14.8%. The corporate tax rate is 31%. QAZs normal borrowing cost is 7.8%. Loyal Bank offers a special loan of $152,000 at 5.3% but charges 3% flotation cost and requires repaying 3/5 of the loan at the end of year 3. QAZ pays the flotation cost with its cash on hand. Using the adjusted present value method, calculate the NPV of the project.