cost) Year (delay refund) 0 1 2 3 4 5 (1,788,333) 6 (1,421,000) 7 (1,421,000) 8...

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cost) Year (delay refund) 0 1 2 3 4 5 (1,788,333) 6 (1,421,000) 7 (1,421,000) 8 (1,421,000) 9 13 14 15 16 A.T. cash flow (int+flot. (1,421,000) 10 (1,421,000) 11 (1,421,000) 12 (1,421,000) 21 22 23 24 25 26 27 28 29 30 31 32 (1,538,333) (1,538,333) 33 34 35 17 (1,421,000) 18 (1,421,000) 19 (1,421,000) 20 (1,421,000) 36 37 (1,538,333) (1,538,333) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,671,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) A.T. cash flow (int + flot. cost) (refund now) (325,667) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,671,000) (1,421,000) (1) 1,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) cost) Year (delay refund) 0 1 2 3 4 5 (1,788,333) 6 (1,421,000) 7 (1,421,000) 8 (1,421,000) 9 13 14 15 16 A.T. cash flow (int+flot. (1,421,000) 10 (1,421,000) 11 (1,421,000) 12 (1,421,000) 21 22 23 24 25 26 27 28 29 30 31 32 (1,538,333) (1,538,333) 33 34 35 17 (1,421,000) 18 (1,421,000) 19 (1,421,000) 20 (1,421,000) 36 37 (1,538,333) (1,538,333) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,671,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) A.T. cash flow (int + flot. cost) (refund now) (325,667) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,671,000) (1,421,000) (1) 1,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000) (1,421,000)