Dog Up! Franks is looking at a new sausage system with an installed cost of $647,400. This cost will be depreciated straight-line to zero over the project's 5-year life, at the end of which the sausage system can be scrapped for $99,600. The sausage system will save the firm $199,200 per year in pretax operating costs, and the system requires an initial investment in net working capital of $46,480.

If the tax rate is 22 percent and the discount rate is 9 percent, what is the NPV of this project?