An investment project involves an immediate outlay of $8.0m. The net cash flows at the end of Years 1, 2 and 3 will be $3.0m, $4.0m and $2.0m. A 10% discount rate is applicable. The NPV of the potential investment will be:

Select one:

a. $1.0 million

b. $9.0 million

c. ($0.46) million

d. $7.54 million