3 (Chapter 6) Turlock Meats, Inc. is looking at a new processing system with an installed cost of $1,120,000. This cost will be depreciated straight-line to zero over the project's five-year life, at the end of which the new system can be scrapped for $120,000. The new processing system will save the firm $340,000 per year in pretax operating costs, and the system requires an initial investment in net working capital of $60,000 (which must be maintained for the five years). If the tax rate is 21% and the discount rate is 8%, what is the NPV of the project