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(Related to Checkpoint 11.1) (Net present value calculation) Dowling Sportswear is considering building a new...

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(Related to Checkpoint 11.1) (Net present value calculation) Dowling Sportswear is considering building a new factory to produce aluminum baseball bats. This project would require an initial cash outlay of $6,000,000 and would generate annual net cash inflows of $900,000 per year for 6 years. Calculate the project's NPV using a discount rate of 7 percent. If the discount rate is 7 percent, then the project's NPV is $ (Round to the nearest dollar.)

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