J\&J Inc. is considering a new project to expand its manufacturing facilities. The project requires an initial investment of $5 million today (the investment involves the purchase of equipment with a CCA rate of 25% and $3 million salvage value). The Accelerated Investment Incentive (A.I.I.) and declining balance depreciation apply. Management believes that the company will NOT have other assets in the same asset class when the equipment is sold in three years. Revenues (R) and expenses (E) from this project (before taxes and excluding depreciation) are shown in the table below. Not included in the expenses in the table below is an environmental impact report provided by a local consulting firm for a total cost of $15,000. The table also shows the typical net working capital requirements for J\&J as a percentage of expected sales revenue for the following year (the same percentages would apply to additional sales generated by the new project): All NWC related cash flows will be fully reversed by the end of year three. The new project falls within J\&J's main line of business and is no more or less risky than the overall firm. J\&J's rWaCc is 6% and the effective marginal corporate tax rate is 30%. What is the project's NPV? Should J\&J Inc. implement this project? Hint: this problem may be easiest to solve using a table format (sales are different each year, so there is no opportunity to use the annuity formula)