Dog Up! Franks is looking at a new sausage system with an installed cost of $865,800. This cost will be depreciated straight-line to zero over the project's 7-year life, at the end of which the sausage system can be scrapped for $133,200. The sausage system will save the firm $266,400 per year in pretax operating costs, and the system requires an initial investment in net working capital of $62,160.

Required:If the tax rate is 33 percent and the discount rate is 9 percent, what is the NPV of this project?