An asset that costs $3 million dollars will be depreciated to a zero book value across a 12 year project using the straight-line method. What is the depreciation amount per year?

A project requires a $2 million investment in net working capital (NWC) today, and will be fully recovered in 5 years. What is the PV of the NWC cash flows if r = 0.12 per annum? (Enter answer in millions of dollars, rounded to the nearest thousandth (3rd digit), as in "1.123" million.)