Green Landscaping, Inc. is using net present value (NPV) when evaluating projects. Green Landscapings cost of capital is 10.67 percent. What is the NPV of a project if the initial costs are $2,118,540 and the project life is estimated as 11 years? The project will produce the same after-tax cash inflows of $389,302 per year at the end of the year.

Round the answer to two decimal places.