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Quad Enterprises is considering a new threeyear expansion project that requires an initial xed asset investment of $2.91 million. The xed asset will be depreciated straight line to zero over its threeyear tax life, after which time it will be worthless. The project is estimated to generate $2,150,000 in annual sales, with costs of $845,000. The tax rate is 30 percent and the required return on the project is 11 percent. 1III'IIlhat is the project's NPV? {Enter your answer in dollars. not millions of dollars, e.g. 1,234,561 Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.} no $