Morganite Inc. is considering a project with an initial cost of $1 million. The project will not produce any cash flows for the first two years. Starting in year 3, the project will produce cash inflows of $500,000 a year for five years. This project is risky, so the firm has assigned it a discount rate of 20 percent. What is the net present value? $38,406.99 $32.180,37 $36,140.82 O $34.480.49