Anderson International Limited is evaluating a project in Erewhon. The project will create the following cash flows:

Year Cash Flow

$0$$ $585,000$

$1215,000$

$2158,000$

$3223,000$

$4202,000$

All cash flows will occur in Erewhon and are expressed in dollars. In an attempt to improve its economy, the Erewhonian government has declared that all cash flows created by a foreign company are $$blocked$$ and must be reinvested with the government for one year. The reinvestment rate for these funds is $6$ percent. Assume Anderson uses a required return of $12$ percent on this project.

What is the NPV of the project?