(Net present value calculation) Carson Trucking is considering whether to expand its regional service center in Moab, UT. The expansion requires the expenditure of $10,500,000 on new service equipment and would generate annual net cash inflows from reduced costs of operations equal to $4,000,000 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 the investment cash inflow totals $5,000,000. Calculate the project's NPV using a discount rate of 6 percent.

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