A project requires an investment in machinery today of $25 million. That investment can be depreciated for tax purposes straight-line to zero over 5 years. Starting one year from now and ending 4 years from now, the project will generate annual revenues of $17 million and expenses of $12 million, both pretax. An immediate working capital investment of $3 million is required, and working capital will remain at that level until recovered 4 years from now. Also at year 4, the machinery will be sold for $8 million. The firm is taxed at 35%. An appropriate discount rate is 9%. What is NPV?