XYZ Corporation is considering investing in a new manufacturing plant. The plant will require an initial investment of $1,000,000 and is expected to generate cash flows of $400,000 per year for the next 5 years. The plant will be sold at the end of the 5 years for an estimated salvage value of $400,000. The corporation's cost of capital is 8%. What is the net present value (NPV) of the project? Should XYZ Corporation invest in the new plant?