Archer Daniels Midland Company is considering buying a farm that it plans to operate for 10 years. The farm will require an initial investment of $12.00 million. This investment will consist of $2.10million for land and $9.90 for trucks and other equipment.

The land, all trucks, and other equipment is expected to be sold at the end of 10 years at a price of $5.17 million, $2.43 million above book value. The farm is expected to produce revenue of $2.00 million each year, and annual cash flow from operations equals $1.81 million. The marginal rate is 35 percent, and the appropriate discount rate is 9 percent. Calculate the NPV of this investment .