Esfandairi Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.18 million. the fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be worthless. the project is estimated to generate $1.645 million in annual sales, with costs of $610,000. the tax rate is 21 percent. if the required return is 12 percent, what is the project's npv?

Sales	$1,645,000
Costs	$610,000
Depreciation	726,667
EBT	$308,333
Taxes	64,750
Net income	$243,583
OCF	$970,250
NPV	$866,295		The other values were marked correct, but this NPV is wrong.