Suppose Cold Goose Metal Works Inc. is evaluating a proposed capital budgeting project (project Beta) that will require an initial investment of $3,225,000. The project is expected to generate the following net cash flows:

Year Cash Flow

Year 1 $300,000

Year 2 $400,000

Year 3 $475,000

Year 4 $425,000

Cold Goose Metal works Inc.'s weighted average cost of capital is 9%, and project Beta has the same risk as the firm's average project. Based on the cash flows, what is project Beta's NPV?