Jiminez, Incorporated, is an all-equity firm. The cost of the companys equity is currently 11.5 percentand the risk-free rate is 4.4 percent. The company is currently considering a project that will cost $11.94 million and last six years. The company uses straight-line depreciation. The project will generate revenues minus expenses each year in the amount of $3.55 million.If the company has a tax rate of 23 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, roundedto 2 decimal places, e.g., 1,234,567.89)