A division of Cullumber City Highlands Manufacturing is considering purchasing a machine for $1,170,000 that automates the process of inserting electronic components onto computer motherboards. The annual cost of operating the machine will be $39,000, but it will save the company $289,000 in labor costs each year. The machine will have a useful life of 10 years, and its salvage value in 10 years is estimated to be $234,000. However, for tax purposes the initial purchase price of the machine will be depreciated straight-line to zero. If the marginal corporate tax rate is 32 percent and the appropriate discount rate is 12 percent, what is the NPV of this project? (Do not round discount factor. Round intermediate calculations and final answer to 0 decimal places, e.g. 5,275.) NPV of the project