A new electronic process monitor costs $990,000. This cost could be depreciated at 30 percent per year (Class 10). The new monitor also requires us to increase net working capital by $47,200 when we buy it. Further suppose that the monitor could be worth $100,000 in five years. The new monitor would save $460,000 per year before taxes and operating costs. If we require a 15 percent return, what is the NPV of the purchase? Assume a tax rate of 40 percent.