$($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 $6$ years. Calculate the project's NPV using a

discount rate of $7$ percent.

If the discount rate is $7$ percent, then the project's NPV is $

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