A company is considering a new project requiring an upfront fixed-asset investment of $1,000,000 with an economic life of five years. Depreciation is taken on a straight-line basis, with no expected salvage value. Net working capital required immediately is expected to be $100,000 and will be recovered in full upon the project's completion in five years.In the optimistic-scenario forecast, the annual sales volume is 47,000 units, while the sale price is $122 per unit with a variable cost of $60 per unit.Annual fixed costs are estimated to $1,036,000. If the appropriate discount rate is 11.50% and the tax rate 30%, what is the project's NPV?