Jackie Ltd is considering investment in a project with below details. Analyse this investment using Economic Value-Added Method (EVA):

It is a three-year project with initial investment of $3 Million, depreciating over three years using straight line method.

Expected EBITDA for years 1-3 are $2 Million, $2.5 Million, and $3 Million respectively with WACC 12% and tax rate 30%.

Increases in net working capital investment each year is 10% of previous year net invested capital.