A firm just purchased a piece of machinery for $1 million. The machinery will be depreciated straight line over 2 years. The machinery is exoected to produce items that can be sold for $2.5 million per year. The costs associated with producing the items and maintaining the machinery are $1.7 million per year. There are no fixed costs associated with this project. The firm has a tax rate of 30%. After two years the machinery is worthless and the project ends. The discoubt rate fir this project is 18% per year. What is the present value of this project?