Gaston Company is considering a capital budgeting project requiring a $$1,900,000$ investment in equipment with a useful life of five

years and no salvage value. The company's tax rate is $30\%$ and its after$-$tax cost of capital is $16\%.$ It uses the straight$-$line depreciation

method for financial reporting and tax purposes. The project would provide annual net operating income over five years as follows:

Click here to view Exhibit $14$B$-1$ and Exhibit $14$B$-2,$ to determine the appropriate discount factor$($s$)$ using tables.

Required:

Compute the project's net present value.