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3. Recall that research and development costs are $10 million today with an expected revitalization cost of $5 million in the fifth year. The product

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3. Recall that research and development costs are $10 million today with an expected revitalization cost of $5 million in the fifth year. The product is expected to go on sale starting in two years and is forecast to produce year-end profits of $4 million for the first three years and another $3 million per year for the subsequent two years. Its last year will earn a projected $1 million in profit. The cost of capital for this project is 12% compounded annually. From a financial perspective only, should this new product be launched

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