Company X is considering investment in a new project that is projected to generate $2 million in sales each of the next 4 years. Manufacturing closts are expected to be 60% of revenues. The project will also require annual sales and marketing expenses of $200 thousand each year, starting immediately and continuing each year of the 4 years of the project life. The project will require an upfront capital expenditure of $1 million, depreciated on a straight-line to zero over the 4-year life. The project will require $100 thousand in cash, deposited immediately and returned after the life of the project. Find the NPV if Company X has an appropriate cost of capital of 10%. Assume a marginal tax rate of 35%.