Pharoah Company is considering buying a new farm that it plans to operate for 10 years. The farm will require an initial investment of $12.05 miltion. This investment will consist of $2.90 million for land and $9.15 million for trucks and other equipment. The land, all trucks, and all other equipment are expected to be sold at the end of 10 years for a price of $5.30 million, which is $2.40 million above book value. The farm is expected to produce revenue of $2.10 million each year, and annual cash flow from operations equals $2.00 million. The marginal tax rate is 25 percent, and the appropriate discount rate is 9 percent. Calculate the NPV of this investment (Do not round foctor values, Round final answer to 2 decimal places, es. 5,275.25.) NPV $ The project should be