Jones 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 $5 Million, depreciating over three years using straight line method.

- Expected EBITDA for years 1-3 are $1 Million, $3 Million, and $4 Million respectively with WACC 8% and tax rate 30%.

- Increases in net working capital investment each year is 5% of previous year net invested capital.