A company is considering whether or not to develop a mine. It will take a capital investment of $8,000,000 to start mining production today. The mine is expected to produce cashflows of $2,000,000 from the ore each year for the next ten years. At the end of the 11th year an expenditure of $2,500,000 will be required to close the mining site. If the WACC is 20%, how much is the NPV of developing the mine