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. $0.70 million $1.10 million $1.00 million $0.87 million $0.50 million