Blaylock Company wants to buy a numerically controlled (NC) machine to be used in producing specially machined parts for manufacturers of trenching machines. The outlay required is $700,000. The NC equipment will last five years with no expected salvage value. The expected after-tax cash flows associated with the project follow: Year Cash Revenues Cash Expenses 1 $1,600,000 $1,000,000 2 1,600,000 1,000,000 1,600,000 1,000,000 1,600,000 1,000,000 1,600,000 1,000,000 Required: Compute the investment's Net Present Value, assuming a required rate of return of 12 percent. Round present value calculations and your final answer to the nearest dollar. NPV = $