You are considering producing a new product, which if it is successful will produce cash flows of $49,000 per year in perpetuity. If it is unsuccessful, the cash flow will be $21,000 in the first year and then you will shut down. If the probability of success is 0.5 and the opportunity cost of capital is 8 percent, what is the maximum that you would be willing to pay to undertake the investment? Enter your response below