Noble Tech is considering the following project. The estimated cost of the project in the current year is $710,000. The

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Noble Tech is considering the following project. The estimated
cost of the project in the current year is $710,000. The project is
expected to generate cash flows in the amount of $224,000 in the
first and second year, followed by $1,300,000 in year 3 through
year 5. No cash flow is expected after year 5. The company uses a
discount rate of 8.9% for similar projects. Calculate the NPV of
this project. (Round your answer to the nearest dollar).