You have just been offered a contract worth

$1.04

million per year for

5

years. However, to take the contract, you will need to purchase some new equipment. Your discount rate for this project is

11.6%.

You are still negotiating the purchase price of the equipment. What is the most you can pay for the equipment and still have a positive

NPV?

The most you can pay for the equipment and achieve the11.6%

annual return is what million??(Round to two decimal places.)