A new electronic process monitor costs $$7,000,000.$ This cost could be depreciated at $30\%$ per year $($CCA Class $10).$ The monitor could be sold for $$1,428,595$ at the end of five years. The new monitor would save the firm $$2,400,000$ before taxes in annual operating costs for the five years. There would be no impact on net working capital. The firm$$s weighted average cost of capital is $15\%$ and the corporate tax rate is $40\%.$

$3.$ What would be the NPV of purchasing this system?

A$)$ $$866,886$

B$)$ $$816,957$

C$)$ $$3,310,960$

D$)$ $$92,891$

E$)$ $$512,639$