The initial investment of a new project is $3.75 million and is expected to sell 10,000 units at $65 net cash in the first year. The life of the project is 10 years. After the first year, the expected sales will be revised to 22,000 units per year for the remaining life of the project if it is a success in the first year; if it is a failure in the first year, the expected sales will be 8,000 units per year for the remaining life of the project. The probability of success in the first year is 0.40 and failure is 0.60.There is an option to abandon the project after the first year for an abandonment value of $3 million. The discount rate for this project is 20%. Answer the next three questions based on this information. What is the NPV of the project with the abandonment option? (Ignore cents)