Suppose Palmer Properties is considering investing $2 million today (i.e., C₀ = -2,000,000) on a new project that is expected to last for 12 years. The project is expected to generate annual cash flows of C₁ = -250,000; C₂ = 200,000, C₃ = 300,000 and then $350,000 for period C₄ through C_12. If the discount rate is 8% and management