Your company bought land three years ago for $2.45 million in anticipation using it as an area to dispose of things, but has recently hired another company to handle all building materials. Based on a recent appraisal, the company believes it could sell the land for $2.65 million on an aftertax basis. In four years the land could be sold for $2.85 million after taxes. The company also hired a marketing firm to analyze the market, at a cost of $285,000. The following information was found: The industry will have a rapid expansion in the next four years. With the brand name recognition that your company brings to bear, we feel that the company will be able to sell 6,200, 6,900, 7,500, and 5,800 units each year for the next four years, respectively. Again, capitalizing on the name recognition of PUTZ, we feel that a premium price of $480 can be charged for each. Because they appear to be a fad, we feel at the end of the four-year period, sales should be discontinued. PUTZ believes that fixed costs for the project will be $575,000 per year, and variable costs are 20 percent of sales. The equipment necessary for production will cost $3.2 million and qualifies for 100 percent bonus depreciation in the first year. At the end of the project, the equipment can be scrapped for $525.000. Net working capital of $235,000 will be required immediately. PUTZ has a lax rate of 21 percent, and the required return on the project is 12 percent. What is the NPV of the project