Herky is opening the Hawkeye Bar and Grill, a two-year project, in downtown A City. The initial investment is expected to be $600,000. Herky has predicted the probabilities that his business will realize high or low demand for the next two years. The timeline of cash flow estimates and corresponding probabilities (in parentheses) are in the chart below. Assume the discount rate is 10%. What is the NPV of Herky's project? -$600,000 time 0 High (80%) $200,000 Low (20%) -$150,000 time 1 High (70%) Low (30%) High (10%) Low (90%) $1,000,000 $200,000 $400,000 -$400,000 time 2