Your company is considering launching a new

line of stoves. The manufacturing plant required for producing the new line of stoves

costs $$6,000,000($today$)$ and will be depreciated down to zero over $20$ years using

straight$-$line depreciation. The manufacturing plant will be sold for $$600,000$ at the

end of $10$ years $($the life of the project is $10$ years$).$ Net working capital increases by

$$300,000$ at the beginning of the project $($year $0)$ and it is reduced back to its

original level in the final year of the project. The tax rate is $20$ percent and the

discounting rate for the project is $10\%.$ What is the initial outlay $($Cash flow today$)$for

this project?