Assume that a company is considering a $2,400,000 capital investment in a project that would earn net income for each of the next five years as follows:

Sales				$	1,900,000
Variable expenses					800,000
Contribution margin					1,100,000
Fixed expenses:
Out-of-pocket operating costs	$	300,000
Depreciation		400,000			700,000
Net operating income				$	400,000

Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using the tables provided. If the companys discount rate is 25%, then the projects net present value is closest to: