Dorman Industries has a new project available that requires an initial investment of $6.3 million. The project will provide unlevered cash flows of $855,000 per year for the next 20 years. The company will finance the project with a debt-to-value ratio of .4. The companys bonds have a YTM of 6.4 percent. The companies with operations comparable to this project have unlevered betas of 1.33, 1.26, 1.48, and 1.43. The risk-free rate is 3.4 percent, and the market risk premium is 6.6 percent. The company has a tax rate of 35 percent.

What is the NPV of this project?