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A 25- year project has a cost of $1,500,000 and has annual cash flows of $400,000 in years 1-15, and $200,000 in years 16-25. The

A 25- year project has a cost of $1,500,000 and has annual cash flows of $400,000 in years 1-15, and $200,000 in years 16-25. The company's required rate is 14%. Given this information, calculate the NPV of the project.

a. $0.70 million

b. $0.50 million

c. $1.00 million

d. $0.87 million

e. $1.10 million

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