Dog Up! Franks is looking at a new sausage system with an installed cost of $787,800. This cost will be depreciated straight-line to zero over the project's 3-year life, at the end of which the sausage system can be scrapped for $121,200. The sausage system will save the firm $242,400 per year in pretax operating costs, and the system requires an initial investment in net working capital of $56,560.

If the tax rate is 24 percent and the discount rate is 16 percent, what is the NPV of this project?