Carson Trucking is considering whether to expand its regional service center in​ Mohab, UT. The expansion requires the expenditure of ​$11 comma 000 comma 000 on new service equipment and would generate annual net cash inflows from reduced costs of operations equal to ​$3 comma 000 comma 000 per year for each of the next 9 years. In year 9 the firm will also get back a cash flow equal to the salvage value of the​ equipment, which is valued at ​$1.1 million. ​ Thus, in year 9 the investment cash inflow totals ​$4 comma 100 comma 000. Calculate the​ project's NPV using a discount rate of 8 percent.
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Part 1
If the discount rate is 8 ​percent, then the​ project's NPV is ​$
  
enter your response here. ​(Round to the nearest​ dollar.)