Down Under Boomerang, Inc., is considering a new 3-year expansion project that requires an initial fixed asset investment of $2.38 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 $1,760,000 in annual sales, with costs of $670,000. The tax rate is 25 percent and the required return is 11 percent. What is the projects NPV?