Digital Organics $($DO$)$ has the opportunity to invest $$1\mathrm{.}12$ million now $($t $=0)$ and expects after$-$tax returns of $$700,000$ in t $=1$ and $$800,000$ in t $=2.$ The project will last for two years only. The appropriate cost of capital is $12\%$ with all$-$equity financing, the borrowing rate is $8\%,$ and DO will borrow $$400,000$ against the project. This debt must be repaid in two equal installments of $$200,000$ each. Assume debt tax shields have a net value of $$0\mathrm{.}30$ per dollar of interest paid.

Calculate the project$$s APV.