A project is expected to create operating cash flows of $23,000 a year for three years. The initial cost of the fixed assets is $47,000. These assets...

A project is expected to create operating cash flows of $23,000 a year for three years. The initial cost of the fixed assets is $47,000. These assets will be worthless at the end of the project. An additional $2,000 of net working capital will be required throughout the life of the project. What is the project's net present value if the required rate of return is 11 percent