Kansas Salt Co. is considering an investment in computer-based production technology as part of a business reengineering process. The necessary equipment will cost $18,000,000, have a life of eight years, and generate annual net before-tax cash flows of $3,100,000 from operations. Cost of installation and training is considered nominal. The equipment will have no salvage value at the end of its eight-year estimated life. The company's tax rate and cost of capital are, respectively, 30 percent and 5 percent. a. 1. If Kansas Salt Co. uses straight-line depreciation for tax purposes, calculate the net present value of the investment. Note: Round your final answer to the nearest whole dollar