You expect to purchase a property using a $1,000,000 cash investment and investment an additional $200,000 in improvements at closing which will produce the following cash flows:

Year 1: $36,000

Year 2: $72,000

Year 3: $75,600

Year 4: $79,000

Year 5: $83,000

You also estimate that the sale of your property five years from now will produce cash proceeds of $1,440,000

You believe your investment capital should achieve a 12% per annual return, so you choose to discount all future cash flows at that rate.

What is the NPV of this income stream?