Dowling Sportswear is considering building a new factory to produce aluminum baseball bats. This project would require an initial cash outlay of $5,500,000 and would generate annual net cash inflows of $1,200,000 per year for 9 years. Calculate the projects NP using a discount rate of 7 percent.

If the discount rate is 7 percent, then the project's NPV is $_____.

(Related to Checkpoint 11.1) (Not present value calculation) Dowing Sportswear is considering buliding a new tactory to produce aluminum baseball buts. This project would requie an initat cash outay of $5,500,000 and would generate annual net cosh inflows of $1,200,000 per year for 9 yeans. Calculate the projects NPV using a discount rate of 7 percent. If the discount rate is 7 percont, then the project's NPV is $ (Round to the nearest doliar)