A company is considering investing in Project A. The project requires an initial investment of 780,000 and is expected to generate 23,000 in one year, 45,000 in 2 years, and 182,000 at the end of each year from the end of year 5 to the end of year 13 inclusive. The cost of capital is 10% p.a. effective. 1) Calculate the net present value (NPV) of the project.