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 expected-scenario forecast, the annual sales volume is 44,700 units, while the sale price is $121 per unit with a variable cost of $71 per unit. Annual fixed costs are estimated to $1,045,000. If the appropriate discount rate is 11.75% and the tax rate 30%, what is the project's NPV?

	$2,196,482
	$2,251,394
	$2,306,306
	$2,361,218
	$2,416,130