3. A publicly-traded company is planning a $2M expansion. The expansion is projected to produce an ann cash flow of $1,500,000 for the next two years (beginning one year from today). The expansion will be financed by selling $20M in new debt and $30M in common stock. The firm's coupon rate of interesti and the YTM on the firm's bonds is 9%. The firm's cost of equity is 14% and the firm is in the 40% tax bracket. Based on the IRR method, should the expansion be undertaken