You may attempt this question 4 more times for credit.

Apple is planning to incorporate new software for the price of $500000 today in order to produce a new line of the iPod. The new iPod will be ready for sale in 1 year. If the new software will generate incremental sales of 15000 units for $75 per unit, what is the NPV of the project? Use a required rate of return 5.00%, and assume that this new line is produced for one period only.

$ Place your answer to the nearest dollar without any commas.