Assume your company is considering a new project at a cost of $12 million. The project may begin today or in exactly one year. You expect the project to generate $1,500,000 in free cash flow the first year if you begin the project today. Free cash flow is expected to grow at a rate of 3% per year. The risk-free rate is 4%. The appropriate cost of capital for this investment is 11%. The standard deviation of the projects value is 30%. Should you begin the project today or wait one year?