Green Landscaping, Inc. is using net present value (NPV) when evaluating projects. Green Landscapings cost of capital is 12.02 percent. What is the NPV of a project if the initial costs are $1,354,920 and the project life is estimated as 7 years? The project will produce the same after-tax cash inflows of $467,458 per year at the end of the year.

Round the answer to two decimal places.