(Net present valuecalculation) Dowling Sportswear 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 $1,200,000 per year for 6 years. Calculate theproject's NPV using a discount rate of 8 percent.

If the discount rate is 8 percent, then theproject's NPV is $