We project unit sales for a new household-use laser-guided cockroach search and destroy system as follows:

Year Unit Sales

1. 101,000
2. 113,000
3. 136,000
4. 142,000
5. 95,000

The new system will be priced to sell at $475 each.

The cockroach eradicator project will require $2,200,000 in net working capital to start, and total net working capital will rise to 15% of the change in sales. The variable cost per unit is $345, and total fixed costs are $2,500,000 per year. The equipment necessary to begin production will cost a total of $22 million. This equipment is mostly industrial machinery and thus qualifies for CCA at a rate of 20%. In five years, this equipment will actually be worth about 20% of its cost.

The relevant tax rate is 35%, and the required return is 17%. Based on these preliminary estimates, what is the NPV of the project?(Enter the answer in dollars. Do not round your intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)