You are evaluating a new project. The project has revenues of $100k per year,  and operating costs of $40k per year, both paid at the end of the year. There are  no taxes. The project also requires an initial inventory of $500k. Each year,  inventory will increase by $100k. 

The project will be in operation for 10 years  before shutting down. If the firm's discount rate is 6%, what is the NPV of the  project?