ABC Company is planning to purchase a conveyor belt that has a cost of $1.5 million. On December 31, Year 3, a positive cash inflow of $250,000 is expected from this project. Also, as of December 31, Year 3, the applicable cumulative discount factor for this project is .235 or 23.5%. Given this information, calculate the Present Value (PV) as of t = 0 for the Year 3 project cash flow.