Down Under Boomerang, Inc., is considering a new $3-$year expansion project that

requires an initial fixed asset investment of $$2\mathrm{.}31$ million. The fixed asset will be

depreciated straight$-$line to zero over its $3-$year tax life, after which it will be worthless.

The project is estimated to generate $$1,785,000$ in annual sales, with costs of $$695,000.$

The tax rate is $25$ percent and the required return is $12$ percent. What is the project's

NPV$?($Do not round intermediate calculations and enter your answer in dollars, not

millions of dollars, rounded to $2$ decimal places, e$.$g$.,1,234,567\mathrm{.}89.$