A Company is considering a new product line to supplement its range line. It is anticipated that the new product line will involve cash investment of $700,000 at time 0 and $1.0 million in year1. After-tax cash inflows of $500,000 are expected in year2, $300,000 in year3, $700,000 in year4, and $400,000 each year thereafter through year 10. Though the product line might be viable after year 10, the company prefers to be conservative and end all calculations at that time. If the required rate of return is 15 percent, what is the net present value of the project?