Ivanhoe Company is considering buying a new farm that it plans to operate for 10 years. The farm will require an initial investment of $12.15 mittion, This investment will consist of $2.85 mittion for land and $9.30 milfion for trucks and other equipment. The hand, all trucks, and all other equipment are expected to be sold at the end of 10 years for a price of $5.20 million, which is $2.30 miltion above book value. The farm is expected to produce revernue of $2.05 million each year, and annual cash fiow from operations equals $1.95 million. The marginal tax rate is 25 percent, and the appropriate discount rate is 10 percent. Calculate the NPV of this investment. (Do not round factor values. Round finat answer to 2 declmat places, eg 5,275.25.7 NPV $