Assume that Paradise Peach Hotel, a hotel chain, is planning to open its hotel in a new location. It is assumed that the project will produce net cash inflows of $$900,000$ at the end of each of the next $5$ years and its internal rate of return is $8\%.$ Calculate the initial investment for the project. $($The present value of annuity of $8\%$ for $5$ years is $3\mathrm{.}99271.)$

a$.$ $$7,186,878$

b$.$ $$2,432,800$

c$.$ $$3,593,439$

d$.$ $$5,477,900$