Nisqually, Inc., is considering a new $3-$year expansion project that requires an initial fixed asset investment of $$1\mathrm{.}6$ million. The fixed asset falls into the $3-$year MACRS class $,0\mathrm{.}0741)$ and will have a market value of $$214,200$ after $3$ years. The project requires an initial investment in net working capital of $$205,000.$ The project is estimated to generate $$2,548,000$ in annual sales, with costs of $$989,200.$ The tax rate is $34$ percent and the required return on the project is $7\mathrm{.}7$ percent. What is the initial capital outlay for the project?