QuickCut Inc is considering a new 3-year expansion project that requires an initial fixed asset investment of $2.49 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life. The project is estimated to generate $2,010,000 in sales per year with additional costs of $705,000 per year. The tax rate is 34% and the required return (appropriate discount rate) is 16%. The fixed asset should have a market value of $495,000 at the end of the project. In addition, the project requires an initial investment in net working capital of $230,000 which will be fully recovered in the third year. What is the NPV of this investment?