Marin Charters uses a charter boat that they purchased 15 years ago for 1500,000. I had an expected life of 20 years and was being depreciated straight-line over its 20-year life. The owners believe that they are losing business to charter businesses with nicer, newer boats. The existing boat could currently be sold for $250,000, but would have no estimated value in hive years. They are considering the purchase of a $1,000,000 Viking 80 boat., which would allow Marlin Charters be to charge higher rates in addition to increasing their bookings. The boat is new and would require In investment of $200,000 in electronics and interior finishings designed for fishermen/fisherwomen. Fortunately, the IRS would allow them to depreciate the boat straight-line over five years to a zero salvage value. Marin Charters estimates an increase in annual revenue of $350,000 and an increase in expenses of $125.000 over the next five years. The owners believe they could sell the Viking for $800,000 in five years. Marlin Charters has a tax rate of 25% and a required rate of return of 14%.

What is the NPV of the proposed purchase? Do not enter a "$" in your answer.