A company is considering a project that is expected to generate cost savings. The project would require the purchase of an asset for $1,600,000. Assume the following: Present Value of Salvage Value = $80,000; PVCCATS = $300,000; Present Value of After-tax Savings = $1,300,000. What is the NPV for the project? Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50.