Sheridan Condiments is a spice-making firm. Recently, it developed a new process for producing Spices. The process requires new machinery that would cost $2,244,338, have a life of five years, and would produce the cash flows shown in the following table.

Year Cash flow

1 $626,372

2 -229,300

3 754,920

4 702,420

5 692,480

What is the NPV if the discount rate is 14 percent? (Enter negative amounts using negative sign e.g. -45.25. Do not round discount factors. Round other intermediate calculation and final answer to 0 decimal places, e.g. 1,525.)