Fighting Company is looking at a capital project to invest in a new fighting ring. Fighting completed a market research study on the need for additional fighting shows which cost $500,000. The all-in cost of the new ring is estimated at $2,500,000 and is expected to be used for 15 years, after which Fighting can sell the ring for $750,000. The new ring will require an investment of $1,000,000 in new inventory and cash by Fighting which is anticipated to be recovered at the end of the project. Incremental revenue per year is forecast at $1,500,000 and incremental expenses are $1,100,000. Fighting has a tax rate of 40%, a risk-adjusted discount rate of 8% and the present value of the CCA tax shield is $700,000. The project is expected to be funded solely with equity with a cost of issuance of 8%. What is the NPV of this project and should Fighting invest in the project?