Kopperud Electronics has an investment opportunity to produce a new HDTV. The required investment on January 1 of this year is $195 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 21 percent tax rate. The price of the product will be $543 per unit, in real terms, and will not change over the life of the project. Labor costs for Year 1 will be $16.50 per hour, in real terms, and will increase at 3 percent per year in real terms. Energy costs for Year 1 will be $4.74 per physical unit, in real terms, and will increase at 2 percent per year in real terms. The inflation rate is 4 percent per year. Revenues are received and costs are paid at year-end. Refer to the following table for the production schedule:

	Year 1		Year 2		Year 3		Year 4
Physical production, in units	177,000		197,000		212,000		171,000
Labor input, in hours	1,280,000		1,520,000		1,376,000		1,296,000
Energy input, physical units	226,000		241,000		271,000		256,000
The real discount rate for the project is 6 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?