Crane Sporting Goods is planning to buy a new equipment to replace the existing old equipment. The new equipment will not affect the firm's unlevered net income or net working capital. The old equipment was purchased 3 years ago at a price of $1.2 million and follows a five-year straight-line depreciation method. The old equipment has a market value of $0.5 million now and $0 in the future. The new equipment will cost $1.4 million and follows a five-year straight-line depreciation method. By the end of year five, the CFO expects to sell the new equipment for a price of $0.6 million. What is the NPV of the equipment replacement plan for the next five years at a discount rate of 12%? The marginal tax rate for the firm is 25%.