Prime Industries is a manufacturer of healthcare products. The company is evaluating the feasibility of a new household disinfectant product that uses ultraviolet radiation technology. The project has a lifespan of 10 years and is expected to generate a yearly revenue of $4.2 million and a yearly operating expense of $1.2. The new manufacturing equipment will cost $15 million, and production and sales will require an initial $5 million investment in working capital. The equipment will be fully depreciated using the straight-line method over the life of the project with disposal value of $2 million (after tax) at the end of the project. In addition, the company spent $150,000 in research related to the product last year. Rather than acquiring a new building, the company plans to install the equipment in a building that it owns but currently unoccupied. The building could be sold for $3 million after taxes and relevant fees (the value of the building is expected to be stagnant over the entire period of the project). The company's tax rate is 30%. If the expected return from shareholders is 12% per year, what is the project's NPV? Should the project be accepted?

Please note: As you must submit all questions in one word document you cannot submit a spreadsheet, neither can you submit a spreadsheet as an embedded object in a Word document. So after you construct your table in Excel please simply copy and paste into a Word document. You can set up your data in a spreadsheet and use it check your answer but remember you still have to show how the NPV, etc. was derived. This does not mean giving the Excel algorithm, which does not show how the solution was derived. So please show all workings, for example show how you have discounted the cash flows.