Oregon State is trying to determine whether to build a new parking garage near the medical center. They would need to make a one-time initial investment in the land for $600,000, and would incur $475,000 in construction fees for 3 years (starting in year 1). They expect that they would turn a yearly profit of $425,000 upon opening in 4 years. If OSU has a MARR of 14% and the project has a life of 18 years, what is the present value of this project