Dowling Sportswear is considering building a new factory to produce aluminum baseball bats. This project would require an initial cash outlay of

$4,000,000

and would generate annual net cash inflows of

$1,100,000

per year for

9

years. Calculate the project's NPV using a discount rate of

7

percent.

If the discount rate is

7

percent, then the project's NPV is

$enter your response here.

(Round to the nearest dollar.)