Your company has been doing well, reaching $1.1 million in earnings, and is considering launching a new product. Designing the new product has already cost $ 526,000. The company estimates that it will sell 805,000 units per year for $3.03 per unit and variable non-labor costs will be $1 .01 per unit. Production will end after year 3. New equipment costing $1.2 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 5308,000. The new product will require the working capital to increase to a level of $ 388,000 immediately, then to $398,000 in year 1, $357,000 in year 2, and finally return to $308,00OE Your tax rate is 35%. The discount rate for this project is 10.5%. Do the capital budgeting analysis for this project and calculate its NPV. Complete the capital budgeting analysis for this project below: (Round to the nearest dollar.)