Building Better Co. is considering branching out into a new product line. They forecast annual cash flows of $340,000 from this new product line. This will require an initial investment of $1,200,000....

Building Better Co. is considering branching out into a new product line. They forecast annual cash flows of $340,000 from this new product line. This will require an initial investment of $1,200,000. Additionally, this new product will reduce existing sales by an estimated $450,000 per year for 8 years. The firm's cost of capital is 7%. Calculate the NPV of this project.