$($Related to Checkpoint$11\mathrm{.}1)($Net present value$$ calculation$)$ Dowling Sportswear is considering building a new factory to produce aluminum baseball bats. This project would require an initial cash outlay of $$$$6,000,000$ and would generate annual net cash inflows of $$$$900,000$ per year for $7$ years. Calculate the$$ project's NPV using a discount rate of $8$ percent. Question content area bottom Part $1$ If the discount rate is $8$percent$,$ then the$$ project's NPV is $$$ enter your response here. $($Round to the nearest$$ dollar.$)$