Chrustuba Inc. is evaluating a new project that would cost $8.4 million at t = 0. There is a 50% chance that the project would be highly successful and generate annual after-tax cash flows of $6.2 million during Years 1, 2, and 3. However, there is a 50% chance that it would be less successful and would generate only $1 million for each of the 3 years. If the project is highly successful, it would open the door for another investment of $12 million at the end of Year 2, and this new investment could be sold for $24 million at the end of Year 3. Assuming a WACC of 10.5%, what is the project's expected NPV (in thousands) after taking into account this growth option? Do not round intermediate calculations.