Problem 02.005 - New product value after development A rotary engine powers a vertical takeoff and landing (VTOL) personal aircraft known as the Moller Skycar M400. It is a flying car known as a personal air vehicle (PAV), and it is expected to make its first untethered flight in 2020. The PAV has been under development for 28 years at a total cost of $110 million. Assuming the $110 million was spent in an equal amount each year, determine the future worth at the end of the 28-year period at an interest rate of 7% per year The future worth is $