Company T is an all-equity firm with a beta of 12. The risk-free rate is 4%, and the expected return on the market portfolio is 8%. They are evaluating a new five-year project similar to its existing operations. The project requires an initial investment of $5 million, and the book value and market value of the equipment will both be zero at the end of the project. The project will generate the same operating cash flows of $1.3 million every year from Year 1 to Year 4. Their operating cash flow at Year 5 will be $800,000 due to the cleanup cost they have to pay at the end of the project. Should they accept the project or reject it? Why? Explain. You should show your answer with calculations to earn full credit