Conway Auto is considering a new business development program. Anticipated benefits are $100,000 in the first year, $200,000 in the second year, and $400,000 in the third year. Benefits will decline 10% a year after the third year, and will end after the tenth year. Assume these benefits are received at year-end. The effective required return in 10%. What is the present value of these benefit? If the development program requires an initial outlay of $500,000, what is the net present value?