East Coast Television is considering a project with an initial outlay of$$ $X $($you will have to determine this$$ amount$).$ It is expected that the project will produce a positive cash flow of $$$$59,000$ a year at the end of each year for the next $16$ years. The appropriate discount rate for this project is $8$ percent. If the project has an internal rate of return of $11$percent$,$ what is the$$ project's net present$$ value?