Lakonishok Equipment has an investment opportunity in Europe. The project costs 17,799,101 and is expected to produce cash flows of 3,734,876 in Year 1, 5,013,062 in Year 2, and 5,025,811 in Year 3. The current spot exchange rate is $1.24/ and the current risk-free rate in the United States is 3.91%, compared to that in Europe of 2.83%. The appropriate discount rate for the project is estimated to be 11.33%, the U.S. cost of capital for the company. In addition, the subsidiary can be sold at the end of three years for an estimated 12,711,008. What is the NPV of the project?