Please do not use excel to solve.

P11-1 (similar to) Question Help * (Related to Checkpoint 11.1) (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 $4,000,000 and would generate annual net cash inflows of $1,200,000 per year for 7 years. Calculate the projects NPV using a discount rate of 8 percent. If the discount rate is 8 percent, then the project's NPV is $ (Round to the nearest dollar)