You are evaluating a real estate development project that requires an initial investment of $$4,000,000.$ The project is expected to generate a net operating income of $$550,000$ per year with annual increases of $2\%$ for the next $5$ years. After $5$ years, you expect to sell the developed property for $$4,200,000.$ If your required rate of return is $14\%,$ what is the present value or investment value of the cash flows from the project?

$$4,136,484$

$$3,768,350$

$$4,073,281$

$$4,225595$