Company FIN3610-ETRA just launched a new project. The required return is 10%.

The project will last for 3 years. Every year, the revenues generated from the project will be $1,780,000, and the costs from the project will be $676,000.

The initial investment on this project is equal to $2.37 million, which will follow the three-year MACRS depreciation schedule (MACRS schedule). The salvage value will be $390,000.

In addition, the project requires an initial $390,000 investment in net working capital.

If the tax rate is 24%, what is the NPV of this project?

(Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to two decimal places, e.g., 1,234,567.89.)