(NPV with varying required rates of return) Gubanich Sportswear is considering building a new factory to produce aluminum baseball bats. This project would require an initial cash outlay of $4,000,000 and would generate annual free cash inflows of $1,000,000 per year for 8 years.

If the required rate of return is 7 percent, the project's NPV is $__________. (Round to the nearest dollar and use thousands separators.)

Group of answer choices

77,566

638,864

1,971,299

1,146,123