Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.77 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 $2132886 in annual sales, with costs of $829441. If the tax rate is 31 percent and the required return on the project is 12 percent, what is the project's NPV?