5) You are evaluating a project that increases your near-term inventory efficiency. The project will initially cost $2 million in capital expenditures (immediately), and it will be depreciated over three years (straight-line) with zero salvage value. You do not anticipate additional capital spending. The firm's marginal tax rate is 35%, and the project's WACC is 30%. Assume that all other net working capital accounts (other than inventory) and capex remain the same. Revenue and Cost of Goods Sold projections are shown below. What is the NPV of this project? Actual (last year) Projected (amounts in $millions) 2015 2016 2017 2018 Revenue COGS 450 200 300 250 140 200 150 Inventory Days Oustanding Base Case New Project 77 70 70 550 70 60 50 650 550 i) - $70,241 ii) $533,735 iii) -$640,967 iv) $51,134 v) -$1,021,729