Daily Enterprises is purchasing a $12,000,000 machine. The machine will be depreciated using straight-line depreciation over its 8 year life and will have no salvage value. The machine will generate revenues of $6,000,000 per year along with costs of $2,000,000 per year.

If Daily's marginal tax rate is 39%, what will be the cash flow in each of years 1 to 8 (the cash flow will be the same each year)?

Given annual cash flows of $3,025,000, if the discount rate is 12%, what is the NPV of the project?

Enter your answer rounded to the nearest whole number.