Dog Up! Franks is looking at a new sausage system with an installed cost of $881,400. 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 $135,600. The sausage system will save the firm $271,200 per year in pretax operating costs, and the system requires an initial investment in net working capital of $63,280.

Required:

If the tax rate is 34 percent and the discount rate is 11 percent, what is the NPV of this project?