Karma Pty Ltd will need to buy new machines for $210,000 now and then spend another $95,000 in Years 1-3 to rent a store to sell cat products. It is predicted to generate the following net cash inflows: Year 1:+$235,000 Year 2:+$350,000 Year 3: +$185,000 What is the present value of this project to Karma Pty Ltd if the required rate of return is 6% p.a. compounded semi-annually? Your response must be entered as a numerical value with 2 decimal places and excluding the dollar sign (\$)