Question: Consider a project with an initial investment (today, t = 0) of $1,250,000. This project will generate cash flows of $375,000 per year for the

Consider a project with an initial investment (today, t = 0) of $1,250,000. This project will generate cash flows of $375,000 per year for the next 5 years. The remaining assets from the project will be sold for scrap for $280,000 at the end of Year 5. What is the net present value (NPV) of the project under a 6.15% appropriate discount rate? There are no taxes to consider. Answer in whole numbers, rounded to three decimal places.

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