McDermott Technologies is evaluating a new project that requires $800,000 In new equipment. McDermott estimates that the new project will generate $900,000 In annual sales at the end of each of the...

McDermott Technologies is evaluating a new project that requires $800,000 In new equipment. McDermott estimates that the new project will generate $900,000 In annual sales at the end of each of the next four years and that operating costs (excluding depreciation) wll equal $400,000. Suppose the firm depreciates the equipment using the straight-line method over four years and the firm's tax rate is 40%. If the project's WACC is 9.8%, what is the present value of the project's OCFS?