Related to Checkpoint 11.1 and Checkpoint 11.4) (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 lat the project will produce a positive cash flow of $50,000 a year at the end of each year for the next 14 years. The appropriate discount rate for this project is 9 percent. If the project has an internal rate of return f 14 percent, what is the project's net present value? If the project has an internal rate of return of 14%, then the project's initial outlay is ! (Round to the nearest cent.)