Green Landscaping, Inc. is using net present value (NPV) when evaluating projects. Green Landscapings cost of capital is 6.47 percent. What is the NPV of a project if the initial costs are $2,117,080 and the project life is estimated as 9 years? The project will produce the same after-tax cash inflows of $698,053 per year at the end of the year.

Round the answer to two decimal places.