A project has an initial outlay of $3,437. It has a single payoff at the end of year 6 of $9,638. What is the net present value (NPV) of the project

A project has an initial outlay of $3,437. It has a single payoff at the end of year 6 of $9,638. What is the net present value (NPV) of the project if the company’s cost of capital is 9.48 percent?

Round the answer to two decimal places.