Lucian manufactures digital camera and camera accessories. Recently, the company is considering to produce and sell a new model of compact digital camera. Prior to this, the company has employed a consultant to conduct a survey on the features that consumers are looking for in a compact digital camera. Those features were incorporated into the new camera. The company spent $500,000 on the survey report. Furthermore, Lucian spent a further $1,500,000 to develop a new sharper 24-85mm zoom lens which will be fitted onto the new camera. The new digital camera will have an expected life of four years and will generate sales of 6,400 units annually at a selling price of $790 each. The fixed costs are $850,000 per year and the variable costs per unit are $400. The project requires an initial investment of $3,700,000 in manufacturing equipment. This $3,700,000 will be 100 percent depreciated on a straight-line basis over the four-year life of the project. The manufacturing equipment can be sold for $800,000 (before tax) at the end of the project. The project will also require Lucian to make an investment in net working capital of $100,000. The company tax rate is 35 percent and the project required return is 20 percent. Should the company invest in this project? Show the steps without using excel.