A computer chip manufacturer is planning a new $5-$year expansion project. It already paid $$200$k to a company for market research. The project will require an initial fixed asset investment of $$4$million. The asset will be depreciated using the straight$-$line method over $5$ years with no salvage value. The expansion should produce $$5$M in annual sales and $$2$M of annual expenses during that time. The company$$s tax rate is $40\%,$ depreciation is tax$-$deductible, and the discount rate is $12\%.$ What is the project$$s NPV$?$ Should the company undertake the expansion project?Note that the $$200$k is a sunk cost and should not be included in the calculations.