A retailer is considering whether to open a new shop on a vacant block of land it owns. If the company goes ahead with the project, it will construct a new building at a cost of $3,012,000. It will also incur additional expenses of $321,000. The tax office has ruled that the building can be depreciated straight-line over 10 years, but the additional expenses are immediately tax-deductible. The land was purchased ten years ago at a cost of $917,000 and is worth $3,300,000 today. Setting up the new shop will require inventory of $479,000. What is the initial cash flow of the project, if the corporate tax rate is 30% ? (make sure you indicate outflow as" " and inflow are positive numbers. ONly show the total value at the start of the project