Halcyon Lines Inc. is considering purchasing a new ship for $$8$ million now. The forecasted cash inflows for the project are $$1$ million a year for $15$ years. A major refit costing $$2$ million will be required at the end of Year $5$ and Year $10.$ After $15$ years, the ship is expected to be sold at $$1\mathrm{.}5$ million, ignore any depreciation and tax considerations.What is the NPV of the project if the relevant discount rate is $8\%$ per year? Should you go ahead with the project? $[$Hint: Just set up the NPV formula that includes all the relevant cash inflows and outflows.$]$