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 $1.24million in annual sales, with costs of $485,000. The tax rate is 35 percent and the required return is 12 percent. What is the project NPV