There is a new product launch, and the research and development costs are $20 million today with an expected revitalization cost of $10 million in the fifth year. The product is expected to go on sale starting in two years and is forecast to produce year-end profits of $7.5 million for the first three years and another $6 million per year for the subsequent two years. Its last year will earn a projected $2 million in profit. The cost of capital for this project is 13% compounded annually. From a financial perspective only, should this new product be launched?

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