Quad Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2

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Quad Enterprises is considering a new three-year expansionproject that requires an initial fixed asset investment of $2.55million. The fixed asset falls into the three-year MACRS class. Theproject is estimated to generate $2,030,000 in annual sales, withcosts of $735,000. The project requires an initial investment innet working capital of $250,000, and the fixed asset will have amarket value of $285,000 at the end of the project.
If the required return is 15 percent, what is the project'sNPV? (Enter your answer in dollars, not millions ofdollars, e.g. 1,234,567. Do not round intermediate calculations andround your final answer to 2 decimal places, e.g.,32.16.)