DigitalOcean has come up with a new speaker prototype and is ready to go ahead with pilot production and test marketing. The pilot production and test marketing phase will last for one year and cost $410,000. Your management team believes that there is a 50% chance that the test marketing will be successful and that there will be sufficient demand for the new speaker. If the test-marketing phase is successful, then DigitalOcean will invest $2.8 million in year one to build a plant that will generate expected annual after-tax cash flows of $350,000 in perpetuity beginning in year two. If the test marketing is not successful, DigitalOcean can still go ahead and build the new plant, but the expected annual after-tax cash flows would be only $180,000 in perpetuity beginning in year two. DigitalOcean has the option to stop the project at any time and sell the prototype speaker to an overseas competitor for $310,000. DigitalOcean's cost of capital is 10%. Assuming that DigitalOcean has the ability to sell the prototype in year one for $310,000, what is the NPV of the DigitalOcean speaker project?