9. A three-year project is expected to have a cash flow of $12.60 million in year one, $14.3 million in year two, and $16.90 million in year three. The terminal value of the project at the end of year three is expected to be $22.80 million. What's the highest level of investment the project owner should be willing to invest to start the project today if the required rate of return on similar projects is 13% per year