**CANNOT USE EXCEL. CAN USE CALCULATOR. PLEASE SHOW ALL STEPS/SHORTCUTS ON CALCULATOR.
Project K has an initial cost of $33,191, and its expected net cash inflows are $12,500 per year for 5 years. The firm has a WACC of 14 percent, and Project K’s risk would be similar to that of the firm’s existing assets. Calculate the net present value (NPV) of Project K.