Question 3 4 pts Assume a perfect capital market. Thomas considers investing in an apartment block at t=0. This requires an initial investment of 5,500,000 at t=0. The project is expected to generate positive cash flows from t=2 onwards. The expected cashflow at t=1 is 0. The expected cashflow is 200,000 at t=2 and 250,000 at t=3. From t=3 onwards, the cashflow will increase in perpetuity with 2% a year. The annual discount rate equals 6%. Question: Calculate the net present value of this project. Round your answer to whole euros (i.e. O decimals). Do NOT include the euro sign in your