Jiminez, Incorporated, is an all$-$equity firm. The cost of the company's equity is currently

$11\mathrm{.}2$ percent and the risk$-$free rate is $4\mathrm{.}1$ percent. The company is currently considering a

project that will cost $$11\mathrm{.}85$ million and last six years. The company uses straight$-$line

depreciation. The project will generate revenues minus expenses each year in the

amount of $$3\mathrm{.}49$ million. If the company has a tax rate of $25$ percent, what is the net

present value of the project? $($Do not round intermediate calculations and enter your

answer in dollars, not millions of dollars, rounded to $2$ decimal places, e$.$g$.,$

$1,234,567\mathrm{.}89$

Net present value