H. Cochran, Inc., is considering a new three-year expansion project that requires an initial fixed asset investment of $2,470,000. The fixed asset will be depreciated straight-line zero over its three-year tax life, after which time it will be worthless. The project is estimated to generate $3,190,000 in annual sales, with costs of $2,210,000. If the tax rate is 21 percent and the required rate of return on the project is 9 percent. What is the project's NPV?