A project has an initial cost of $35,000, expected net cash inflows of $9,000 per year for 8 years, and a cost of capital of 12%. What is the project's NPV? ( Hint: Begin by constructing a time line.)...

A project has an initial cost of $35,000, expected net cash inflows of $9,000 per year for 8 years, and a cost of capital of 12%. What is the project's NPV? (Hint: Begin by constructing a time line.) Do not round intermediate calculations. Round your answer to the nearest cent.

$