A firm is considering to start a new project to make bottles. A project needs $3 million investment in net working capital and $12 million investment in equipment cost. The equipment cost will be 100% depreciated over 4 years life with zero salvage value. The project is with 4 years life. Estimated sales are 3 million cans. Sales price per can is $6 and cost per can is $3. Fixed costs are 1 million per year. Tax rate is 20%, and cost of capital is 5%. What is the estimated NPV of the project? $12.29 million $14.09 million $15.32 million $10.15 million