You have inherited an apple orchard and want to sell it in the next four years. An expert in apple orchard valuation has estimated the after-tax cash flow you would receive if you sold at the end of each of the next four years as follows: $700,000 if you sell in one year; $1,000,000 if you sell in two years; $1,200,000 if you sell in three years; and $1,300,000 if you sell in four years. Your opportunity cost of capital is 9 percent. Calculate the NPV of each alternative. (Round intermediate calculations and final answers to the nearest whole dollar, e.g. 5,275.)

NPV1 $:

NPV2 $:

NPV3 $:

NPV4 $:

When should you sell the orchard? You should sell the orchard after .