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You have just been oflered a contract worth $1.05 million per year for 6 years. However, to take the contract, you will need to purchase

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You have just been oflered a contract worth $1.05 million per year for 6 years. However, to take the contract, you will need to purchase some now equipment. Your discount rate for this project is 11.7%. You are still nogotiating the purchase price of the equipment. What is the most you can poy for the equipment and stil havo a poaitive NPV? The most you can pay for the equipment and achieve the 11.7% annual retum is 4 million. (Round to two decimal places.)

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