Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.37 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be worthless. The project is estimated to generate $1,765,000 in annual sales, with costs of $675,000. The tax rate is 21 percent and the required return on the project is 12 percent. What is the projects NPV?