Problem $6-3$ Calculating Project NPV

Esfandalri Enterprises is considering a new $3-$year expansion project that requires an

Initlal fixed asset investment of $$2\mathrm{.}28$ million. The fixed asset will be depreclated

straight$-$line to zero over its $3-$year tax life, after which time it will be worthless. The

project is estimated to generate $$1,750,000$ in annual sales, with costs of $$660,000.$ The

tax rate is $23$ percent and the required return is $13$ percent. What is the project's NPV$?$

$($Do not round Intermedlate calculations and enter your answer In dollars, not millilons

of dollars, rounded to $2$ decimal places, e$.$g$.,1,234,567\mathrm{.}89.)$

Answer is complete but not entirely correct.