FIN$-320$

$($Related to Checkpoint$11\mathrm{.}1)($Net present value$$ calculation$)$Dowling Sportswear is considering building a new factory to produce aluminum baseball bats. This project would require an initial cash outlay of $$$$5500000$ and would generate annual net cash inflows of $$$$900000$ per year for $9$ years. Calculate the$$ project's NPV using a discount rate of $8$ percent.

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Part $1$

If the discount rate is $8$percent$,$ then the$$ project's NPV is $$$

$$

enter your response here. $($Round to the nearest$$ dollar.$)$