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( Related to Checkpoint 1 1 . 1 ) ( Net present value calculation ) Dowling Sportswear is considering building a new factory to produce

(Related to Checkpoint 11.1)(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 $1,200,000 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.)
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