Ivanhoe company is considering buying a new farm that is plans to operate for 10 years. The farm will require an initial investment of $11.85 million. This investment will consist of $2.15 million for land and $9.70 million for trucks and other equipment. The land, all trucks and all other equipment are expected to be sold at the end of 10 years for a price of $5.25 million, which is $2.10 million each year, and annual cash flow from operations equals $1.90 million. The marginal tax rate is 35 percent, and the appropriate discount rate is 10 percent. Calculate the NPV of this investment.

DO NOT ROUND FACTOR VALUES, Round answer to 2 decimal places.

The answer already given on Chegg is 1.58 and that IS NOT THE ANSWER!