$14.$ Your client wishes to know the value of an asset before he invests in it$.$ He understands that the expected cash flows from the asset are $$1$m at the end of the first year, $$2$m at the end of the second year and $$4$m at the end of the third year. You advise him to use the capital asset pricing model. The beta of the asset is $1\mathrm{.}5.$ Expected return on the market is $10\%.$ The risk$-$free rate is $5\%.$ What is the value of the asset?