New Haven Recreation Inc. is considering a proposal to manufacture high$-$end handcrafted artisanal Frisbees. The project requires the use of an existing warehouse which the firm already owns and which it currently rents out for $$120,000$ a year. Rental rates are not expected to change going forward. Rents are paid at the beginning of the year in which the tenant will use the warehouse. $1$ In addition to using the warehouse $($so it can no longer be rented out$),$ the project requires an up$-$front investment in machines of $$1\mathrm{.}4$ million. This investment can be fully depreciated $($i$.$e$.$ to $$0)$ straight$-$line over the next $10$ years for tax purposes. However, New Haven Recreation expects to terminate the project at the end of eight years and to sell the machines for $$500,000.$ The project requires an initial investment at the beginning of the first year of net working capital equal to $10\%$ of predicted first$-$year sales. Subsequently, net working capital associated with the project is $10\%$ of the predicted sales over the following year. Sales of artisanal Frisbees are expected to be $$4\mathrm{.}8$ million in the first year and to stay constant for eight years. Total manufacturing costs and operating expenses $($excluding depreciation$)$ are $80\%$ of sales, and profits are taxed at $30\%.$ The warehouse can be rented out after the project is done at the same rate it would have received if the project had never happened, and the value of net working capital associated with the project will be redistributed to investors upon project completion. If the appropriate cost of capital for all cashflows associated with this project is $15\%$ and the project will be $100\%$ equity financed, what is the NPV of this project? Assume that all cashflows that are not up$-$front occur at the end of the relevant year, and that the first tax payment is not due until one year from today.

Note: When an asset is liquidated, any gain on its sale is taxed. The gain is the difference between the sale price and the asset$$s book value, and the book value is the asset$$s purchase price minus its accumulated depreciation