Frontier DNA Sciences Inc. is considering a three-year expansion project with an initial investment of $618,000 in automated DNA sequencing equipment. The project will not directly produce any sales but will reduce operating costs by $265,000 every year. The equipment is depreciated straight-line to a zero book value over the life of the project. At the end of the project the equipment will be sold for an estimated $60,000. The project will require $23,000 in extra inventory for spare parts and accessories (at = 0) and no longer need it as the project is wound down (at = 3). The tax rate is 34% and the required rate of return is 9%. What is the projects NPV?