Jiminez, Incorporated, is an all-equity firm. The cost of the companys equity is currently 11.7 percent and the risk-free rate is 4.6 percent. The company is currently considering a project that will cost $12 million and last six years. The company uses straight-line depreciation. The project will generate revenues minus expenses each year in the amount of $3.59 million. If the company has a tax rate of 25 percent, what is the net present value of the project?