Chauhan Enterprises is considering a new three-year expansion project that requires an initial fixed asset investment of $2.34 million. The fixed asset will be depreciated straight-line to zero over its three-year tax life, after which time it will be worthless. The project is estimated to generate $1,740,000 in annual sales, with costs of $650,000. The tax rate is 21 percent and the required return on the project is 11 percent. What is the project’s NPV?
Note: Do not round intermediate calculations. Enter your answer in dollars, not millions of dollars, and round your answer to 2 decimal places, e.g., 1,234,567.89.