Ilana Industries, Inc., needs a new lathe. It can buy a new high$-$speed lathe for $$1\mathrm{.}9$ million. The lathe will cost $$44,000$ per year to run, but it will save the firm $$196,000$ in labor costs and will be useful for $10$ years. Suppose that for tax purposes, the lathe will be depreciated on a straight$-$line basis over its $10-$year life to a salvage value of $$380,000.$ The actual market value of the lathe at that time also will be $$380,000.$ The discount rate is $11\%,$ and the corporate tax rate is $21\%.$ What is the NPV of buying the new lathe?