$($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 $$6,000,000$ and would generate annual net cash inflows of $$1,100,000$ per year for $9$ years. Calculate the project's NPV

using a discount rate of $5$ percent.

If the discount rate is $5$ percent, then the project's NPV is $

$($Round to the nearest dollar.$)$