Johnson Co. must update its equipment to meet regulatory standards. This mandatory update will require a $2,000,000 initial investment in fixed assets. These assets will be depreciated straight-line to zero and will have no value after its useful life. The benefit of the mandated upgrade is that it should generate $1,000,000 in additional sales with costs of $200,000 per year during the 2-year period. Johnson Co. has a tax rate of 20%, and a required rate of return of 6%. What is the NPV of this project? (304,670) 481,797 459,950) 390,590