Briarcrest Condiments is a spice-making firm. Recently, it developed a new process for producing spices. The process requires new machinery that would cost $1,513,148. have a life of five years, and would produce the cash flows shown in the following table.
Year Cash Flow
1 $403,744
2 -298,832
3 662,643
4 841,267
5 588,072
What is the NPV if the discount rate is 16.40 percent? (Enter negative amounts using negative sign e.g. -45.25.