Suppose ABC company is evaluating a proposed capital budgeting project that will require an initial investment of $700,000. The project is expected to generate the following net cash flows:Year1: $300,000Year2: $120,000Year3: $200,000Year4: $30,000Year5: $350,000ABC companys weighted average cost of capital (required rate of return) is 9%. Based on the cash flows, what is this projects net present value (NPV)?