Dyrdek Enterprises has equity with a market value of $11.5 million and the market value of debt is $3.90 million. The company is evaluating a new project that has more risk than the firm. As a result, the company will apply a risk adjustment factor of 2.3 percent. The new project will cost $2.34 million today and provide annual cash flows of $611,000 for the next 6 years. The company's cost of equity is 11.35 percent and the pretax cost of debt is 4.95 percent. The tax rate is 23 percent. What is the project's NPV?