A retail company is considering investing in a new IT system for online sales. This would involve investing £10 million in servers and computer software that would have an expected useful life of 3 years. The disposal value of the servers is expected to be £2 million at the end of the 3rd year. It is estimated that the online sales could generate additional revenues of £4 million per year. At the same time, the new system would require hiring software engineers for maintenance at an annual cost of £400,000. The new online sales unit would be allocated corporate overhead costs of £500,000 per year. The investment in the online sales system requires closing a third of all current stores. These had been fitted with new fixtures 2 years ago at a total cost of £1 million with an expected useful life of 5 years. The fixtures' estimated disposal value at the end of the 5th year is £100,000 and their current market value is £250,000. The closing of the stores involves laying off staff with a total salary cost of £700,000 per year, that then would be saved. Assume that the tax rate is 30%. What is the NPV?