Metro Corporation will spend $1 million for special manufacturing equipment. Shipping and installation charges will amount to $157,000 and an initial increase in net working capital of $50,000 will be required. The equipment will replace an existing machine that has a salvage value of $85,000 and a book value of $140,000. If metro has a current marginal tax rate of 34%, what is the amount of the initial outlay for this project?