WSB Inc. is considering a project that will generate new sales of $17.9 million for each of the next 4.9 years. It anticipates the cost of goods sold will run $6.8 million per year with annual overhead adding another $1.5 million. The project requires $3.1 million in property, plant, and equipment, which WSB will depreciate using the 3-year MACRS table below. It thinks it can get $295 selling the fixed assets for scrap at the end of the project. If accepted, the project will immediately free up $61 thousand in net working capital and reduce sales on other product lines by $421 thousand per year. The project will use a piece of land WSB purchased ten years ago for $263 thousand that is currently worth $463 thousand on an after-tax basis. WSB spent $45 thousand collecting and analyzing the data associated with the project. If WSB faces a tax rate of 17% and has an annual required return of 11.9% for projects of this risk, what is the project's initial cash flow from assets?

MACRS: Year 1 2 3 4

rate 0.2 0.4 0.3 0.1

Round your answer to the nearest whole dollar.

Do not enter the dollar sign.

For example, -$1,234,567.89 is -1234568