A large pharmaceutical company, is considering A new project that complements its existing business. The machine required for the project costs $2.4 million. The marketing department predicts that sales related to the project will be $1.5 million per year for the next four years, after which the market will cease to exist. The machine will be depreciated down to zero over its six-year economic life using the straight-line method. Cost of goods sold and operating expenses related to the project are predicted to be 30 percent of sales after 4 years the machine can be sold for $850,000. the company always needs to add net working capital of $90,000 immediately and $10,000 after one year. The additional net working capital will be recovered at the end of the project's life. The corporate tax rate is 30 percent, the required rate of return is 16 percent, what is the net present value of the project . should the company proceed with the project?

I don't want an excel solution