Green Landscaping, Inc. is using net present value (NPV) when evaluating projects. Green Landscaping’s cost of capital is 11.71 percent. What is the NPV of a project if the initial costs are $2,491,550 and the project life is estimated as 5 years? The project will produce the same after-tax cash inflows of $500,159 per year at the end of the year. Round the answer to two decimal places.