Max works as a consultant for the AAA Consulting Group. He has been tasked to find out if a new copperproject is feasible from a net present value point of view. The up-front cost of the project is $320 million. One year from now, the first revenue will be generated. The figures are as follows. Year 1: $180 million; Year 2: $100 million; Year 3: $34 million; Year 4: $35 million. Max decides that the discount rate should change, year by year, as he thinks it is too optimistic to believe that the project keeps on having identical risk within its 4 years of operations. So he sets a discount rate of 5% in year 1; 7% in year 2 and thereafter 9% for years 3 and 4. Using NPV analysis should Max recommend the project to go ahead or not? Briefly discuss.