Temporary Housing Services Incorporated(THSI) is considering a project that involves setting up a temporary housing facility in an area recently damaged by a hurricane. THSI will lease space in this facility to various agencies and groups providing relief services to the area. THSI estimates that this project will initially cost $ 4million to set up and will generate

$20 million in revenues during its first and only year in operation(paid in oneyear). Operating expenses are expected to total

$9 million during this year and depreciation expense will be another$2 million. THSI will require no working capital for this investment. THSI's marginal tax rate is35%

Assume thatTHSI's cost of capital for this project is15%. The net present value(NPV) of this temporary housing project is closestto: