Consider this case:

Suppose Black Sheep Broadcasting Company is evaluating a proposed capital budgeting project $($project Alpha$)$ that will require an initial investment of $$550,000.$ The project is expected to generate the following net cash flows:

Year

Cash Flow

Year $1$ $$350,000$

Year $2500,000$

Year $3500,000$

Year $4500,000$

Black Sheep Broadcasting Company$$s weighted average cost of capital is $10\%,$ and project Alpha has the same risk as the firm$$s average project. Based on the cash flows, what is project Alpha$$s net present value $($NPV$)?($Note: Do not round your intermediate calculations.$)$

$$1,078,283$

$$898,569$

$$1,398,569$

$$1,448,569$