Calculating Project NPV. H. Cochran, Inc., is considering a new three-year expansion project that requires an initial fixed asset investment of $1.850.000. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be worthless. The project is estimated to generate $2,165,000 in annual sales, with costs of $1,235,000. If the tax rate is 34% and the required return on the project is 15%, what is the project's NPV?