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Summer Tyme, Inc., is considering a new 3-year expansion project that requires an initial fixed asset investment of $4.644 million. The fixed asset will be

Summer Tyme, Inc., is considering a new 3-year expansion project that requires an initial fixed asset investment of $4.644 million. The fixed asset will be depreciated straight-line to zero over its 3-year tax life, after which time it will have a market value of $361,200. The project requires an initial investment in net working capital of $516,000. The project is estimated to generate $4,128,000 in annual sales, with costs of $1,651,200. The tax rate is 32 percent and the required return on the project is 10 percent. The NPV for this project is $_________.

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