Kaleb Industries has a new project under consideration. The company has projected sales of 17,500, 19,300, 21,400, 23,600, and 16,200 units per year over the next five years, respectively. Equipment necessary for production will cost $3.6 million today and will be depreciated on a three-year MACRS schedule over the life of the project. The price and variable costs per unit in todays dollars are $125 and $41, respectively. Fixed costs are $565,000 per year when expressed in todays dollars. The company will be able to sell the equipment at a price of $245,000 in five years. The nominal required return is 9.5 percent. The price per unit, variable cost per unit, and fixed costs are all expected to increase at the general inflation rate of 3.1 percent. The company has a tax rate of 23 percent. What is the projects NPV?