The Key West kayak company is building a new factory to produce kayaks.The project would require an initial cash outlay of $5,000,000 and would generate annual net cash inflows of $1,000,000 year for 8 years.Calculate the project's NPV for each of the following discount rates:

a. 9%

b. 11%

c. 13%

d. 15%

e. Compare and contrast the variations of your results based upon the different discount rates.