Q2 Mike Ellers is evaluating a Venture capital investment that requires an initial investment of $2 million and, if it survives, the venture is expected to have a value of $15 million at the end of four years. Year 1 2 3 4 Probability of failure 20% 20% 15% 10% What is the NPV of this investment given the conditional failure rates above and a required rate of return of 25%? A. $1,008,102 B. $1,133,440 C. $1,710,560 Thank you