Management of Seagate Technologies is considering the investment of $350 million in manufacturing capacity, start-up costs, and net working capital to exploit a unique new technology. The effectiveness of the new technology-developed at a total cost of $80 million - remained highly uncertain. During the project's expected fifteen-year life, free cash flows were forecast at anywhere from $0 per year to $98 million per year. Management believed that the effectiveness of the technology would be known by the end of year one. The expected annual free cash flow was $49 million