United Airlines is thinking about flying a route from Houston to Galveston and operating this route for $8$ years. For this route, United will purchase a small airplane worth $$800,000,$ which it expects to operate for $8$ years, and will depreciate on a straight$-$line basis to zero value over this period. The equipment is expected to have a salvage value of $$40,000$ at the end of year $8.$

Each year, the company expects this route to generate revenues of $$500,000$ and incur material, labor, and other costs of $$320,000.$ The firm's tax rate is $40\%$ and its cost of capital is $10\%.$

What's the net present value from undertaking the project? $($Express your answer in dollars rounded to $2$ decimal points.