Maple Leaf Industries is considering a new 5-year project to produce a new product line. The equipment necessary will cost $3.225 million and be depreciated using straight line depreciation to a book value of zero. At the end of the project, the equipment can be sold for 8 percent of its initial cost. The company believes that it can sell 62,500 units per year at a price of $89.50 and variable costs of $35.80 per tent. The fixed costs will be $350,000 per year. The project will require an initial investment in net working capital of $425,000 that will be recovered at the end of the project. The required rate of return is 11.20 percent and the tax rate is 40 percent. What is the NPV? Round to 2 decimals