$($Related to Checkpoint $12\mathrm{.}1)($Calculating project cash flows and NPV$)$ You are considering expanding your product line that currently consists of skateboards to include gas$-$powered skateboards, and you feel you can sell $7,000$ of these per year for $10$ years $($after which time this project is expected to shut down with solar$-$powered skateboards taking over$).$ The gas skateboards would sell for $$110$ each with variable costs of $$35$ for each one produced, and annual fixed costs associated with production would be $$180,000.$ In addition, there would be a $$1,200,000$ initial expenditure associated with the purchase of new production equipment. It is assumed that this initial expenditure will be depreciated using the simplified straight$-$line method down to zero over $10$ years. The project will also require a one$-$time initial investment of $$60,000$ in net working capital associated with inventory, and this working capital investment will be recovered when the project is shut down. Finally, assume that the firm's marginal tax rate is $32$ percent.

d$.$ Given a required rate of return of $8\%,$ the project's NPV is $

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