Sunscape Enterprises has equity with a market value of $11.9 million and the market value of debt is $4.7 million. The company is evaluating a new project that has more risk than the firm. As a result, the company will apply a risk adjustment factor of 2.7 percent. The new project will cost $2.3 million today and provide annual cash flows of $611,800 for the next 4 years. The company's cost of equity is 11.07 percent and the pretax cost of debt is 5.19 percent. The tax rate is 21 percent. What is the project's NPV?