H. Cochran, Inc., is considering a new three-year expansion project that requires an initial fixed asset investment of $2,480,000. The fixed asset will be depreciated straight- line to zero over its three-year tax life, after which time it will be worthless. The project is estimated to generate $3,430,000 in annual sales, with costs of $2,450,000. Assume the tax rate is 25 percent and the required return on the project is 9 percent. What is the project's NPV? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Net present value