$($Net present value$$ calculation$)$Carson Trucking is considering whether to expand its regional service center in$$ Mohab, UT$.$ The expansion requires the expenditure of $$$$9,500,000$ on new service equipment and would generate annual net cash inflows from reduced costs of operations equal to $$$$2,000,000$ per year for each of the next $7$ years. In year $7$ the firm will also get back a cash flow equal to the salvage value of the$$ equipment, which is valued at $$$$1$ million. $$ Thus, in year $7$ the investment cash inflow totals $$$$3,000,000.$ Calculate the$$ project's NPV using a discount rate of $6$ percent.

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Part $1$

If the discount rate is $6$percent$,$ then the$$ project's NPV is $$$enter your response here. $($Round to the nearest$$ dollar.$)$