$($Related to Checkpoint $11\mathrm{.}1$ and Checkpoint $11\mathrm{.}4)($NPV and IRR calculation$)$ East Coast Television is considering a project with an initial outlay of $$x($you will have to determine this amount$).$ It is expected that the project will produce a positive cash flow of $$54,000$ a year at the end of each year for the next $17$ years. The appropriate discount rate for this project is $11$ percent. If the project has an internal rate of return of $13$ percent, what is the project's net present value?

a$.$ If the project has an internal rate of return of $13\%,$ then the project's initial outlay is $ $($Round to the nearest cent.$)$