3. Coca-Cola is considering the purchase of a new water filtration system produced by Rube Goldberg Machines. This new equipment, the RGM-7000, will allow Coca-Cola to expand production. It will cost $15 million fully installed and will be fully depreciated over a 20 year life, then removed for no cost. The RGM-7000 will result in additional revenues of $2.67 million per year and increased operating costs of $579,835 per year. Coca-Cola's marginal tax rate is 22.00%. If Coca-Cola uses a 8% discount rate, then the net present value of the RGM-7000 is _____. Currency: Round to: 2 decimal places.