BP Oil, Inc. operates an oil pipeline which will generate a $1 million revenue one year from today. The pipeline is expected to last forever. Unfortunately, the volume of oil shipped is declining, and revenues are expected to decline by 10 percent per year. When the required rate of return is 15 percent, what is the present value of the pipeline's revenue?

• A. $20 million
• B. $16.7 million
• C. $10 million
• D. $6.7 million
• E. $4.0 million