H Corporation is considering a new business development program that cost $700,000. Anticipated benefits are $60,000 in the first year, $160,000 in the second year, $265,000 in the third year, and $450,000 in the fourth year. Benefits will decline 9 percent a year after the fourth year, and will end after the twelfth year. Assume these benefits are received at year-end. The effective required return is 8 percent. What is the net present value of this training project and is this project attractive?