Jule Company is considering purchasing a grinding machine for $2,000,000. It is expected that the machine will generate after-tax income of $80,000 per year. The company will use straight-line depreciation for the new machine over the machine's useful life of 10 years; salvage value is estimated to be $0. Jule expects to be in the 30% tax bracket. What is the new machine's net present value (NPV) if the company has a minimum rate of return of 10% on all investments?