Kopperud Electronics has an investment opportunity to produce a new HDTV. The required investment on January 1 of this year is $200 million. The firm will depreciate the investment to zero using the straight-line method over four years. The investment has no resale value after completion of the project. The firm has a 22 percent tax rate. The price of the product will be $551 per unit, in real terms, and will not change over the life of the project. Labor costs for Year 1 will be $16.55 per hour, in real terms, and will increase at 4 percent per year in real terms. Energy costs for Year 1 will be $4.78 per physical unit, in real terms, and will increase at 3 percent per year in real terms. The inflation rate is 5 percent per year. Revenues are received and costs are paid at year-end. Refer to the following table for the production schedule: Physical production, in units Year 1 Year 2 Year 3 Year 4 179,000 199,000 214,000 172,000 Labor input, in hours 1,290,000 1,540,000 1,377,000 1,297,000 Energy input, physical units 227,000 242,000 272,000 257,000 The real discount rate for the project is 7 percent. Calculate the NPV of this project. (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89.) NPV