A project requires an initial investment of $1.265 million. It expects to generate a perpetual cash flow. The first year cash flow is expected at $95,000. The cash flows are then expected to grow at 2.5% forever. If the cost of capital for this project is 12%, what is the project's NPV? $0.265 million $0.265 million $0.174 million $0.480 million $0.174 million $1.000 million