Greystone Inc. is considering a four year project which requires an initial investment of $400,000 and generates $100,000 in annual depreciation. The equipment will be worthless at the end of the project's four-year life. The project is expected to generate additional sales of $1.2 million with costs of $975,000 annually. The project also requires an investment of $50,000 in net working capital. The firm's tax rate is 40% and their cost of capital is 15%. What is the net present value (NPV) of the project?