You have been hired as a consultant for Pristine Urban$-$Tech Zither, Incorporated $($PUTZ$),$ manufacturers of fine zithers. The market for zithers is growing quickly. The company bought some land three years ago for $$1\mathrm{.}9$ million in anticipation of using it as a toxic waste dump site but has recently hired another company to handle all toxic materials. Based on a recent appraisal, the company believes it could sell the land today for $$2\mathrm{.}2$ million. The company also hired a marketing firm to analyze the zither market, at a cost of $$275,000.$ An excerpt of the marketing report is as follows:

The zither industry will have a rapid expansion in the next four years. With the brand name recognition that PUTZ brings to bear, we feel that the company will be able to sell $6,000$ units each year for the next four years. Again, capitalizing on the name recognition of PUTZ, we feel that a premium price of $$450$ can be charged for each zither. Because zithers appear to be a fad, we feel at the end of the four$-$year period, sales should be discontinued. The report expects that the new project will have no erosion effect on PUTZ's current sales of other products.

PUTZ believes that annual costs for the project will be $25$ percent of sales. The equipment necessary for production costs $$2\mathrm{.}80$ million today and will be depreciated straight line to zero during the four$-$year life of the project. At the end of the project, the equipment is expected to be worthless in the market. PUTZ needs to make an investment in net working capital of $$200,000$ immediately. PUTZ has an income tax rate of $21$ percent. The required return on the project is $13$ percent.

What is the NPV of the project?