A proposed project requires no working capital, but it needs an initial investment of $600,000 which can be depreciated to a value of zero on a straight-line basis for six years. During those six years, sales are expected to grow at a rate of 15% per year, starting with $100,000 during the first year. At the end of the six years, sales are expected to only grow at 5% per year in perpetuity. Expenses are expected to be $50,000 during the first year and are expected to grow at a rate of 5% in perpetuity immediately thereafter. The firm's marginal tax rate is 32% and investors require a 20% rate of return on projects with this level of risk. What is the net present value of this project?