Electro Company is planning to develop a new electric motorcycle. It estimates that it will need to invest $50 million in equipment and facilities. Its management team estimates that the new motorcycle will generate a net cash flow of $10 million in year 1, $12 million in year 2, $15 million in year 3, $20 million in year 4, and $25 million in year 5. 

Assuming that Electro evaluates all investments using a 15% rate of return (i.e., discount rate), what is the NPV of this project? Should it proceed? Show your work, and clearly explain the reasoning for your answer.