Arndt Corporation is a globally diversified manufacturer with operations in fluid power systems, electrical power quality, distribution and control, and automotive engine air management and fuel economy. It is considering an expansion into the hydrogen fuel cell business. It has been researching its move into the fuel cell industry over the past few years. To date it has spent $130 million on research and development expenses on fuel cell technology and an additional $25 million in marketing and feasibility studies and hopes to recover these costs with the successful move into the industry. It is evaluating the project proposal over a nine-year time horizon