Tom Jenkins has been the Chief Financial Officer $($CFO$)$ for Ace Manufacturing for nearly $20$ years. Ace Manufacturing owns the factory building that houses its operations, but the company's production levels are nearing maximum capacity for the factory building's size. The company is considering expanding and possibly constructing a new larger factory building to house all of its operations. Construction of the new factory building is expected to cost $$5,000,000,$ and the building is expected to have a $14-$year life. Howard Long, the company's Chief Executive Ofificer $($CEO$),$ has asked Tom to "run the numbers" and come up with a recommendation for approval or rejection of the expansion project to be presented to the company's board of directors. Howard reminds Tom that the company must have a rate of return of at least $6\%$ on the investment. After carefully analyzing the numbers, Tom estimates that the expansion project could produce maximum additional future annual cash flows of $$530,000.$ The present value factors from the Present Value of an Annuity of $$1$ Table for $14$ periods are as follows:

$\backslash$table$[[$Periods$,4\%,5\%,6\%,7\%$