Consider the following project for Hand Clapper, Incorporated. The company is considering a $4-$year project to manufacture clap$-$command garage door openers. This project requires an initial investment of $$15\mathrm{.}7$ million that will be depreciated straight$-$line to zero over the project's life. An initial investment in net working capital of $$970,000$ is required to support spare parts inventory; this cost is fully recoverable whenever the project ends. The company believes it can generate $$12\mathrm{.}3$ million in pretax revenues with $$4\mathrm{.}8$ million in pretax operating costs. The tax rate is $22$ percent and the discount rate is $10$ percent. The market value of the equipment over the life of the project is as follows:

$\backslash$table$[[$Year$,\backslash$table$[[$Market Value $($in$],[$millions$)]]],[1,$$$13\mathrm{.}70$