Gaston Company is considering a capital budgeting project that would require a $2,400,000 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 net operating income each year for five years as follows: Sales Variable expenses Contribution margin Fixed expensent Advertising, salaries, and other fixed out-of- pocket costs Depreciation Total fixed expenses $ 3,200,000 1,720,000 1,480,000 $540,000 480,000 1,020,000 Net operating income before. tax $460,000 Required: Compute the project's net present value. Net present value