Quad Enterprises is considering a new three-year expansion project that requires a 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 $1780000 in annual sales, with costs of $690000. The tax rate is 24 percent and the required return on the project is 11 percent. What is the project's NPV?