The Tuff Wheels was getting ready to start its development project for a new product to be added to their small motorized vehicle line for children. The new product is called the Kiddy Dozer. It will look like a miniature bulldozer, complete with caterpillar tracks and a blade. Tuff Wheels has forecasted the demand and the cost to develop and produce the new Kiddy Dozer. The table below contains the relevant information for this project. Development Cost $ 810,000 Estimated Development Time 9 months Pilot Testing $ 230,000 Ramp-up Cost $ 310,000 Marketing and Support Cost $ 156,000 per year Sales and Production Volume 44,000 per year Unit Production Cost $ 85 Unit Price $ 172 Interest Rate 4 % Assume all cash flows occur at the beginning of each period. Tuff Wheels also has provided the project plan shown below. As can be seen in the project plan, the company thinks that the product life will be three years until a new product must be created. Picture (a-1) What are the quarterly cash flows and their present value (discounted at 4%) of this project? (Round your answers to the nearest dollar amount. Enter your answers in thousands. Negative amount should be indicated by a minus sign. Omit the "$" sign in your response.) Project Schedule Kiddy Dozer Period Cash Flow PV Year 1 r = 4% Year 1 Q1 $ $ Q2 $ $ Q3 $ $ Q4 $ $ Year 2 Q1 $ $ Q2 $ $ Q3 $ $ Q4 $ $ Year 3 Q1 $ $ Q2 $ $ Q3 $ $ Q4 $ $ Year 4 Q1 $ $ Q2 $ $ Q3 $ $ Q4 $ $ (a-2) What is the net present value? (Enter your answer in thousands. Round your answer to the nearest dollar amount. Omit the "$" sign in your response.) Net present value $