An accounting firm is considering expanding their operations into new office space so that they can hire more staff and expand their company. The new lease requires a 5-year commitment. If the firm expands its operations, profits are expected to increase by $250,000 during 2023 and then those additional profits should increase by 12% each year from 2024 to 2027. Leasehold improvements to move into the new office space will cost the firm $850,000 with an estimated useful life of 5 years.

4. Using your answers from #1 - #3, make a recommendation as to whether you would recommend expanding into the new office space. Include both quantitative (numerical) and qualitative (non-numerical) reasons for your recommendation.