You are considering investing in a new venture. Based on the business plan of the entrepreneur, if the project is successful, it is expected to generate the following cash flows for investors: Year Cash Flow $1$ $$023$ $$200,000$ $$2,000,000$ $$8,000,0004$ The cash flow in the fourth year includes cash flows that would be realized from selling the venture to a third party at that time. After conducting your own due diligence, you find that you agree with the entrepreneur that, if the venture is successful, the cash flow estimates are reasonable. The entrepreneur is looking for seed capital of $$1$ million to undertake the venture. After the initial investment, if it is successful, the venture will be self$-$supporting. Using the $50\%$ to $100\%$ range of hurdle rates for seed and start$-$up investments, estimate the present value of the venture and the minimum fraction of the equity you would need to justify your investment. Also, determine the hurdle rate that would result in a zero NPV for a $100\%$ interest in the venture.