$($Net present value calculation$)$ Carson Trucking is considering whether to expand its regional service center in Mohab, UT$.$ The expansion requires the expenditure of $$11,000,000$

on new service equipment and would generate annual net cash inflows from reduced costs of operations equal to $$3,500,000$ 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 $$0\mathrm{.}9$ million. Thus, in year $7$ the investment cash inflow totals $$4,400,000.$ Calculate

the project's NPV using a discount rate of $8$ percent.

If the discount rate is $8$ percent, then the project's NPV is $q$

$($Round to the nearest dollar.$)$