(Net present value calculation)JSportswear is considering building a new factory to produce aluminum baseball bats. This project would require an initial cash outlay of

$5,500,000

and would generate annual net cash inflows of

$1,100,000

per year for

6

years. Calculate the project's NPV using a discount rate of

8

percent.

If the discount rate is

8

percent, then the project's NPV is

$ .

Round to nearest dollar please!