Problem 6-3 Calculating Project NPV Down Under Boomerang, Inc., is considering a new 3-year expansion project requires an initial fixed asset investment of $1.42 million. The fixed asset wil depreciated straight-line to zero over its 3-year tax life, after which it will be worth The project is estimated to generate $1.09 million in annual sales, with cost $475,000. The tax rate is 25 percent and the required return is 12 percent. What is project's NPV? (Do not round intermediate calculations and enter your answe dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.8 negative amount should be indicated by a minus sign.) NPV