Down Under Boomerang, Inc. is considering a new three-year expansion project that requires an initial fixed asset investment of $1.4 million. The fixed asset will be depreciated straight-line to zero its three-year tax life, after which it will have a market value of $225,000. The project requires an initial investment in networking capital of $285,000 to be recaptured at the end. The project is estimated to generate $1,120,000 in annual sales, with costs of $480,000. The tax rate is 35% and the required rate of return is 12%.

What is the project's NPV?