Leon Mitchell has been the Chief Financial Officer $($CFO$)$ for Tatum Manufacturing for nearly $20$ years. Tatum Manufacturing owns the factory building that houses its operations, but the company's production levels are nearing maximum capacity for the factory building's size. The company is considering expanding and possibly constructing a new larger factory building to house all of its operations. Construction of the new factory building is expected to cost $$6,000,000,$ and the building is expected to have a $14-$year life. Manuel Garcia, the company's Chief Executive Officer $($CEO$),$ has asked Leon to "run the numbers" and come up with a recommendation for approval or rejection of the expansion project to be presented to the company's board of directors. Manuel reminds Leon that the company must have a rate of return of at least $6\%$ on the investment. After carefully analyzing the numbers, Leon estimates that the expansion project could produce maximum additional future annual cash flows of $$640,000.$ The present value factors from the Present Value of an Annuity of $$1$ Table for $14$ periods are as follows:

$\backslash$table$[[$Periods$,\frac{4\%}{10\mathrm{.}5631},\frac{5\%}{9\mathrm{.}8986},9\mathrm{.}2950,7\%$