Question: Apple Co. is considering a project with an initial cost of $4 million. The project will produce cash inflows of $2 million a year for

Apple Co. is considering a project with an initial cost of $4 million. The project will produce cash inflows of $2 million a year for five years. The firm has a weighted average cost of capital of 12%. Assume that the project has an average risk level as the whole firm. What is the net present value of the project? a. 3.21 million b. 4.88 million C. 2.62 million d. 1.20 million

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