H. Cochran, Inc., considering a new three-year expansion project that requires an initial fixed asset investment of $2,310,000 The fixed asset will be deprecated straight line to zero over its three- -year tax ifte, after which time it will be worthless. The project is estimated to generale $2,220,000 in annual sales with costs of $1,210,000 Assume the tax rates 30 percent and the required return on the project is 11 percent What is the project's NPV? (A negative answer should be indicated by a minus sign. Enter your answer in dollars, not millions of dollars, e... 1,234,567. Do not round intermediate calculations and round your answer to 2 decimal places, e.g.32.16 Net present value Hints References eBook & Resources Check Type here to search do PM 12/2000 hp