INVESTING IN A VINEYARD: A CASH FLOWS PERSPECTIVE When Michael Evans was contemplating moving to Buenos Aires, Argentina, to start a company called the Vines of Mendoza, he had to estimate the project$$s initial cash outlays and compare them to its future net cash inflows. The initial cash outlays included $$2\mathrm{.}9$ million to buy $1,046$ acres of land and to construct a tasting room, $$300,000$ for a well and irrigation system, $$30,000$ for under$-$ ground power lines, and $$285,000$ for $250,000$ grape plants. The annual operating costs included $$1,500$ per acre for pruning, mowing, and irrigation and $$114$ per acre for harvesting. In terms of future cash inflows, Evans hopes to sell his acreage to buyers who want to grow their own grapes and make their own wine while avoiding the work involved with doing so$.$ He intends to charge buyers a one$-$time fee of $$55,000$ per planted acre. The buyers would also reimburse Evans for his annual operating costs per acre plus a $25\%$ markup. In a good year, buyers should be able to get $250$ cases of wine from their acre of grapevines. $///$ here is the question: Chapter $13$ deals with Capital Budgeting Decisions. Please refer to the $"$In Business" article listed on the bottom of page $585$ in your textbook $($Chapter $13).$ "Investing in a Vineyard: A Cash Flows Perspective". From reading the information, do you believe this is a good investment for Michael Evans?