Down Under Boomerang, Inc. is considering a new three-year expansion project that requires an initial fixed asset investment of $2.46 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 generte $2,000,000 in annual sales, with costs of ^695,000. The tax rate is 35% and the required return is 16%. What is the project's NPV?