Basey Corporation has provided the following data concerning an investment project that it is considering: Initial investment $ 510,000 Working capital $ 30,000 Annual cash flow $ 173,000 per year Salvage value at the end of the project $ 15,000 Expected life of the project 5 years Discount rate 15 % Present value of $1; n=5 & i=15% ->0.497 Present value of an annuity; n=5 & i=15% -> 3.352 The working capital would be released for use elsewhere at the end of the project. The net present value of the project is closest to:
