You have been hired as a consultant for Pristine Urban$-$Tech Zither. Inc. $\{$PUTZ$),$ manufacturers of fine zithers. The market for zithers is growing quickly. The company bought some land three years ago $\text{'}$or S$1\mathrm{.}44$ million in anticipation of using it as a toxic waste dump site but has recently hired another company to handle all toxic materials. Based on a recent appraisal, the company believes it could sell the land for $$1\mathrm{.}54$ million on an aftertax basis. In four years, the land could be sold for S$1\mathrm{.}64$ million after taxes. The company also hired a marketing firm to analyze the zither market, at a cost of $$129\mathrm{.}000.$ An excerpt of the marketing report is as follows: The zither industry will have a rape expansion m the next four years. With the Wane name recognition that PUTZ brings to bear, we feel that the company will be able to sell $4\mathrm{.}200.5\mathrm{.}100.5\mathrm{.}700.$ and $4\mathrm{.}600$ units each year for the next four years, respectively. Again, capitalizing on the name recognition of PUTZ. we feel that a premium price of S$690$ can be changed for each zither. Because zithers appear to be a fad. we fee: at the end of the four$-$year period, sales should be discontinued. PUTZ believes that fixed costs for the prefect will be S$445\mathrm{.}000$ per year, and variable costs are $10$ percent of sales. The equipment necessary for production will cost $$3\mathrm{.}9$ million and will be deprecated according to a three$-$year MACRS schedule. At the end of the project. the equipment can be scrapped for S$420\mathrm{.}000.$ Net working capital of S$129.$CCC will be required immediately. PUTZ has a $40$ percent tax rate, and the required return on the pro.ect is $14$ percent. MACRS Schedule What is the NPV of the project? $($Enter your answer In dollars, not millions of dollars, e g $1\mathrm{.}234,567.$ Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$