Your company has been doing$$ well, reaching $$$$1\mathrm{.}16$ million in$$ earnings, and is considering launching a new product. Designing the new product has already cost $$$$496$ comma $000.$ The company estimates that it will sell $813$ comma $000$ units per year for $ $3\mathrm{.}02$ per unit and variable$$ non$-$labor costs will be $$$$1\mathrm{.}02$ per unit. Production will end after year $3.$ New equipment costing $ $1\mathrm{.}17$ million will be required. The equipment will be depreciated to zero using the$7-$year MACRS schedule. You plan to sell the equipment for book value at the end of year $3.$ Your current level of working capital is $$$$296$ comma $000.$ The new product will require the working capital to increase to a level of $$$$385$ comma $000$immediately$,$ then to $$$$403$ comma $000$ in year$1,$ in year $2$ the level will be $$$$344$ comma $000,$ and finally in year $3$ the level will return to $$$$296$ comma $000.$ Your tax rate is $20\%.$ The discount rate for this project is $10\mathrm{.}1\%.$ Do the capital budgeting analysis for this project and calculate its NPV$.$

Note$$: Assume that the equipment is put into use in year $1.$