You are considering a new product launch. The project will cost $1,450,000, have a four-year life, and have no salvage value; depreciation is straight-line to zero. Sales are projected at 160 units per year; price per unit will be $17,000, variable cost per unit will be $10,000, and fixed costs will be $440,000 per year. The required return on the project is 12 percent, and the relevant tax rate is 32 percent. (Do not round intermediate calculations.)