$1$ Questions

$(10$ points$)$ Consider a project costing $$1MM$ each year frorn year $1$ to year $T+1.$ Then, starting in year $T+2,$ the cost will reduce to $$0\mathrm{.}1MM,$ and the woject will start generating a profit of $$0\mathrm{.}5m$ each year, forever. What is the present value of this project given a discount rate of $r?$