Worldwide Scientific Equipment is considering a cash acquisition of Medical Labs for $2.3 million. Medical Labs will provide the following pattern of cash inflows and synergistic benefits for the next 25 years. There is no tax loss carryforward. Use Appendix D as an approximate answer, but calculate your final answer using the formula and financial calculator methods.

cash inflow (after tax) years 1-5 222,000 years 6-15 240,000 years 16-25 280,000

synergistic benefits (after tax) years 1-5 27,000 years 6-15 37,000 years 16-25 57,000

The cost of capital for the acquiring firm is 10 percent. a. Compute the net present value. (Negative amount should be indicated by a minus sign. Enter your answer in dollars not in millions. Do not round intermediate calculations. Round your final answer to 2 decimal places.)