Johnson & Johnson would like to expand its R&D with a new project. J&J has 30% of its value as outstanding debt at a cost of debt of 7.5%. The project would have an initial cost of $800,000 and would create free cash flow of $150,000 a year for 10 years. Assume the market risk premium is 6%, the risk-free rate is 2% and J&J's beta for existing business is 2.6, if this project is as risky as J&J's average business what is the NPV? Assume standard corporate tax rate of 21%