Estefan Industries has a new project available that requires an initial investment of $$4\mathrm{.}9$

million. The project will provide unlevered cash flows of $$842,000$ per year for the next

$20$ years. The company will finance the project with a debt$-$value ratio of $\mathrm{.}35.$ The

company's bonds have a YTM of $6\mathrm{.}3$ percent. The companies with operations

comparable to this project have unlevered betas of $1\mathrm{.}22,1\mathrm{.}15,1\mathrm{.}37,$ and $1\mathrm{.}32.$ The risk$-$free

rate is $3\mathrm{.}7$ percent and the market risk premium is $6\mathrm{.}9$ percent. The tax rate is $22$

percent. What is the NPV of this project? $($Do not round intermediate calculations and

enter your answer in dollars, not millions of dollars, rounded to $2$ decimal places, e$.$g$.,$

$1,234,567\mathrm{.}89)$

NPV