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Question 5: (8 marks) At present, FT Inc. has 1 million shares outstanding, and the firm's net income is $4 million. The company has decided to invest in a new project today. The project requires an investment of $3 million today and an additional $2 million one year from today. The project will start to generate cash inflows from the end of year 2. The cash inflow will be $2 million in perpetuity. The risk- free rate is 6%, and the market risk premium is 4%. In addition, the beta of FT is 1.5. Using the NPVGO model, calculate the value of the stock of FT Inc. today