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Bramble Corp. is thinking about opening a baseball camp in Florida. In order to start the camp, the company would need to purchase land, build five baseball fields, and a dormitory$-$type sleeping with a dining facility to house $100$ players. Each year the camp would be run for $10$ sessions of $1$ week each. The company would hire college baseball players as coaches. The camp attendees would be baseball players age $12-18.$ Property values in Florida have enjoyed a steady increase in value. It is expected that after using the facility for $20$ years, Bramble can sell the property for more than the amount for which it was originally purchased. The following amounts have been estimated:

Cost of land

Cost to build dorm and dining facility

Annual cash flows assuming $100$ players and $10$ weeks

Annual cash outflows

Estimated useful life

Salvage value

Discount rate

Present value of an annuity of $1$

Present value of $1$

$\backslash$$ $655,000$

$2,125,000$

$2,551,500$

$2,285,000$

$20$ years

$4,425,000$

$10\backslash \%$

$8\mathrm{.}51356$

$0\mathrm{.}14864$

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$$ Your answer is incorrect.

Calculate the net present value of the project. $($For calculation purposes, use $5$ decimal places as displayed in the factor table provided. Round answer to $0$ decimal places, e$.$g$.5,275.)$

Net present value $\backslash$$

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