Digital Organics (DO) has the opportunity to invest $0.94 million now (t = 0) and expects after-tax returns of $540,000 in t = 1 and $640,000 in t = 2. The project will last for two years only. The appropriate cost of capital is 13% with all-equity financing, the borrowing rate is 9%, and DO will borrow $240,000 against the project. This debt must be repaid in two equal installments. Assume debt tax shields have a net value of $0.40 per dollar of interest paid. Calculate the projects APV.