Fast Machines Inc. must decide whether to upgrade its production facilities, at a cost of $35,770,000. Doing so will allow it to bring several exciting new products to the market. The following table presents the estimated incremental cash flows that would result from the upgrade, over the expected 10-year life of the project:

Years 1-9$5,750,000Year 10$12,000,000

What is the NPV of the project, given that Fast Machines' required rate of return for a project of this nature is 12% p.a.?

Group of answer choices

$582,461

$680,591

-$1,268,885

$1,049,521

None of the other answers is correct