Briarcrest Condiments is a spice-making firm. Recently, it developed a new process for producing spices. The process requires new machinery that would cost $1,582,338. have a life of five years, and would produce the cash flows shown in the following table.

Year Cash Flow 1 $465,372

2 -208,300

3 613,920

4 747,420

5 621,480

What is the NPV if the discount rate is 12 percent? (Enter negative amounts using negative sign e.g. -45.25. Do not round discount factors. Round other intermediate calculations and final answer to 2 decimal places, e.g. 15.25.)

NPV is $