Esfandairi Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2,300,000. The fixed asset will be depreciated straight line to zero over its three-year tax life, which after time it will be worthless. The project is estimated to generate $2,650,000 in annual sales, with cost of $1,670,000. Assume the tax rate is 22% and the required return on the project is 12%. What is the project NPV?

Esfandairi Enterptises is considering a new three-year expansion project that requires an initial fixed asset investment of $2,300,000. The flxed asset will be deprecioted straight-line to zero over its three-year tax life, ofter which time if will be worthiess. The project is estimoted to generate $2,650,000 in annual sales, with costs of $1,670,000. Assume the tax rate is 22 percent and the required retuin on the project is 12 percent. What is the project's NPV? Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places, e.g. 32.16