SKY has come up with a new composite snowboard. Development will cost $250,000 today upon acceptance of the project. Once in production the snowboard is expected to produce annual cash flows of $200,000 each year for 7 years. If SKY's discount rate is 5,57 percent, then what is the NPV for the new snowboard project? (Do not round intermediate calculations and enter your answer in dollars, not thousands or millions of dollars, rounded to the nearest whole number, e.g., 1234567.)