Suppose Celestial Crane Cosmetics is evaluating a proposed capital budgeting project (project Alpha) that will require an initial investment of $600,000. The project is expected to generate the following net cash flows: Year Cash Flow Year 1 Year 2 $350,000 $400,000 $500,000 $450,000 Year 3 Year 4 Celestial Crane Cosmetics's weighted average cost of capital is 7%, and project Alpha has the same risk as the firm's average project. Based on the cash flows, what is project Alpha's net present value (NPV)? $227,930 $1,227,930 $827,930 $952,119