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( Net present value calculation ) Carson Trucking is considering whether to expand its regional service center in Mohab, UT . The expansion requires the

(Net present value calculation) Carson Trucking is considering whether to expand its regional service center in Mohab, UT. The expansion requires the expenditure of $10,000,000 on new service equipment and would generate annual net cash inflows from reduced costs of operations equal to $2,500,000 per year for each of the next 8 years. In year 8 the firm will also get back a cash flow equal to the salvage value of the equipment, which is valued at $1 million. Thus, in year 8 the investment cash inflow totals $3,500,000. Calculate the project's NPV using a discount rate of 9 percent.
If the discount rate is 9 percent, then the project's NPV is $
(Round to the nearest dollar.)
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