A company is considering expanding its facilities. This would create an increase in after-tax net cash flow of $1,500,000 annually for 20 years. The expansion would require a capital investment (an initial outlay) of $5,800,000 today, and another $2,300,000 one year from now. If the appropriate cost of capital is 13%, what is the Net Present Value (NPV) of this project? (Select the closest answer and please show all work and steps)
A. $ 2.43 million
B. $2.70 million
C. $3.52 million
D. $3.61 million
E. $3.83 million