Green Landscaping, Inc. is using net present value (NPV) when evaluating projects. Green Landscapings cost of capital is 12.22 percent. What is the NPV of a project if the initial costs are $1,940,962 and the project life is estimated as 5 years? The project will produce the same after-tax cash inflows of $479,161 per year at the end of the year.

Round the answer to two decimal places.