Delta Force has the opportunity to invest in a project that will pay back $3.578 million at the end of each year for the next 7 years, beginning one year from now. The initial investment required today is $8.532 million. If the project's required rate of return is 9.7%, what is the net present value?
a. $170.247 million
b. $9.061 million
c. $145.897 million
d. $8.532 million
Delta Force has the opportunity to invest in a project that will pay b