United Pigpen is considering o proposal to manufacture high-protein hog feed The project would require use of an existing warehouse, which is currently rented out to a neighboring firm. The next year's rental charge on the warehouse is $125,000, and thereafter, the rent is expected to grow in line with inflation at 4.8 a yeat. In addition to using the warehouse, the proposal envisages an investment in plant and equipment of $135 million. This could be depreciated for tax purposes straight-line over 10 years. However. Prgpen expects to tarminate the project at the end of 8 yeors and to resell the plant and equipment in year 8 for $450,000. Finally, the project requires an immediate investment in working capitol of $375.000. Thereafter, working capital is forecasted to be 10$5 of sales in each of yeors 1 through 7 . Working capltal will be run down to zero in year 8 when the project shuts down. Yoar i sales of thog feed are expected to be $470 million, and thereafter, sales are forecasted to giow by 5% o year, slightly faster than the inflation rate. Manufacturing costs are expected to be 90% of sales, and profits are subject to tax at 21%. The cost of capital is 12%. What is the NPV of Pigpen's project? Note: Enter your answer in thousands, not in millions, rounded to the nichrest dollar