Joshua Company acquires a depreciable asset at a cost of $830,000 that has a useful life of 5 years and a salvage value of $110,000. The company has a tax rate of 37% and the asset falls into a 30% CCA class. The acquisition of the asset would result in annual pre-tax savings of $355,000 in each of the 5 years starting in year 1. The acquisition of the asset requires an investment in working capital of $37,500 at t=0 which is fully recovered in year 5. If the company is required to earn a minimum rate of return of 12%, what is the NPV of acquiring this asset?