Your company is thinking about taking on an investment project that will require an initial outlay of $5,000,000 at time period zero. You believe that this project will produce expected after-tax cash flows of $2,000,000 each year for 5 years (Years 1-5). Given a cost of capital for this project of 12.36 percent, you can calculate that the expected NPV for this project is $2,145,715.58 and its IRR is 28.65 percent.

Assume now that the firm has the option of delaying the start of this project for 1 year. If they delay the project its cost at time period 1 will increase to $5,500,000. The firm will also have better information about what the cash flows will actually be in Years 2-6 (still a 5-year project). Specifically, there is a 40 percent probability that the cash flow will be $500,000, and a 60 percent chance that the cash flow would be $3,000,000. Ignoring option pricing (use DCF), determine what the incremental NPV that will arise, as of time period zero, if the firm delays implementation of this project for 1 year?

Enter your answer in whole dollars, rounded to the nearest dollar, with no punctuation. For example, if your answer is $100,598.98, enter "100599".