Question: AKT Corp. has a project which will last for 20 years. It requires an initial investment of $35 million and is expected to provide annual

AKT Corp. has a project which will last for 20 years. It requires an initial investment of $35 million and is expected to provide annual cash flows of $5 million per year in years 1-5; $4 million per year in years 6-20. If the company's required rate of return is 10%, determine the NPV.

Select one:

a. $4.67 million

b. $3.67 million

c. $2.85 million

d. $0.67 million

e. $1.67 million

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