The director of RCM inc. plans to launch a new product. The initial investment in equipment and other fittings is $$800,000.$ Management has been thinking about launching this new product for a while. They made several trips to different cities to understand the potential demand, and finally decided to launch this product. These trips have cost the company about $$50,000$ so far. The project will have an estimated lifespan of $5$ years. The first year's income should be $$600,000,$ and the income should remain the same for the duration of the project. The operating costs of the project are estimated at $$200,000$ per year. If the project is undertaken, the total net working capital investment will increase by $$100,000$ at the start of the project, but the company will recover $50\%$ of its net working capital investment at the end of year $5.$ The tax rate is $30\%,$ and the capital cost depreciation rate is $20\%.$ The equipment can be sold at the end of the project for $$150,000.$ The appropriate discount rate for the project is $9\%.$

Calculate the NPV to see if the company should undertake this project or not.