Seahawk Lines is considering the purchase of a new bulk carrier for $5 million to operate for 15 years. Forecasted yearly revenues are $6 million, while operating costs are $4 million, both received at the end of each year. A major refit that costs $4 million will be required at the end of year 5 and year 10. After 15 years the ship is expected to be sold for scrap at $0.5 million. If the discount rate is 10%, what is the ship's NPV?