$($Net present value$$ calculation$)$Dowling Sportswear is considering building a new factory to produce aluminum baseball bats. This project would require an initial cash outlay of $$$$6$ comma $000$ comma $000$

and would generate annual net cash inflows of $$$$1$ comma $100$ comma $000$

per year for $7$

years. Calculate the$$ project's NPV using a discount rate of $7$

percent.

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Part $1$

If the discount rate is $7$

$$percent$,$ then the$$ project's NPV is $$$ $($Round to the

nearest$$ dollar.$)$