Knotts, Incorporated, an all$-$equity firm, is considering an investment of $$1\mathrm{.}77$ million that will be depreciated according to the straight$-$line method over its four$-$year life. The project is expected to generate earnings before taxes and depreciation of $$603,000$ per year for four years. The investment will not change the risk level of the firm. The company can obtain a four$-$year, $8\mathrm{.}3$ percent loan to finance the project from a local bank. All principal will be repaid in one balloon payment at the end of the fourth year. The bank will charge the firm $$53,000$ in flotation fees, which will be amortized over the four$-$year life of the loan. If the company financed the project entirely with equity, the firm$$s cost of capital would be $13$ percent. The corporate tax rate is $22$ percent. Using the adjusted present value method, calculate the APV of the project. $($Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to $2$ decimal places, e$.$g$.,1,234,567\mathrm{.}89)$