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Smith Corp. is considering an investment in a project that requires an initial cash outlay of $900,000 and will deliver incoming cash flows as follows: Year 1: $290,000, Year 2: $270,000, Year 3: $285,000, Year 4: $380,000 and Year 5: $240,000. If Smith uses a discount rate of 5%, compute the NPV of this project and make a recommendation to either accept or reject the project.