Break-Even Salvage Value

A project in Malaysia costs $3 million. Over the next 3 years, the project will generate total operating cash flows of $2.55 million, measured in todays dollar using a required rate of return of 12 percent. What is the break-even salvage value of this project? (2 points)

(Hint: The total operating cash flows of $2.55 million is measured in todays dollar. This means that $2.55 million is the present value of all future operating cash flows, except the salvage value)