Johnson Complex Fabrications is a metal parts manufacturing company. It has developed a new process for producing extruded aluminum tubing. The process requires $1,968,450 initial investment. It expected to have a life of five years and would produce net cash inflows for each of the next five years: year 1 $512,496; year 2 $242,637; year 3 $814,558; year 4 $887,225 and year 5 $712,642.
What is the Net Present Value (NPV) if the discount rate is 15.9 percent?