Suppose Happy Dog Soap Company is evaluating a proposed capital budgeting project $($project Beta$)$ that will require an initial investment of $$2,750,000.$ The project is expected to generate the following net cash flows:

Year

Cash Flow

Year $1$ $$325,000$

Year $2$ $$500,000$

Year $3$ $$450,000$

Year $4$ $$450,000$