Baker|Trimline owned a specialized tools company for a total of 12 years when it was sold for

$38 million cash. During the ownership, annual net cash flow varied significantly as follows:

Year 1 2 3 4 5 6 7 8 9 10 11 12 Net Cash Flow, 4 0 1 3 3 1 4 6 8 10 12 12 $ million per year The company made 12% per year on its positive cash flows and paid 10% per year on short-term loans to cover the lean years. The president wants to use the cash accumulated after 12 years to improve capital investments starting in year 13 and forward. If an 8% per year return is expected after the sale, what annual amount can Baker|Trimline invest forever?