Down Under Boomerang, Inc., is considering a new three-year expansion project that requires an initial fixed asset investment of $1.65 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which it will be worthless. The project is estimated to generate $1.24 million in annual sales, with costs of $485,000. The tax rate is 35 percent and the required return is 12 percent. What is the projects NPV?

I'm stuck; here is what I have. Please continue with what I have done, in the same style; it should be simple for someone who knows this stuff:

OCF = (Sales Costs) (1-tC) + tCDepreciation

OCF = (1240000 485000) (1-.35) + .35 (1650000)

OCF = (755000) (.65) + 577500

OCF = 490750 + 577500

OCF = 1068250

So, the NPV of the project is:

NPV = -1650000 + 1068250 (???How do I figure PVIFA, and what do I do with 12 and 3?)