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Part $1$

You have just been offered a contract worth $ $1\mathrm{.}11$ million per year for $7$ years.$$ However, to take the$$ contract, you will need to purchase some new equipment. Your discount rate for this project is $12\mathrm{.}2\%.$ 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$?$

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Part $1$

The most you can pay for the equipment and achieve the $12\mathrm{.}2\%$ annual return is $?$