Homework: Chapter 8 Homework Question 4, P 8-23 (similar to) HW Score: 0%, 0 of 6 points O Points: 0 of 1 Save You have just been offered a contract worth $1.17 million per year for 5 years. However, to take the contract, you will need to purchase some new equipment. Your discount rate for this project is 11.7%. You are still negotiating the purchase price of the equipment. What is the most you can pay for the equipment and still have a positive NPV? CEO The most you can pay for the equipment and achieve the 11.7% annual return is $ million. (Round to two decimal places.)