A Company is considering launching a new printed circuit board (PCB) production project that requires an initial investment of SR 10,000,000. The project is expected to provide uniform annual revenue of SR 3,000,000 for 8 years. Annual expenses are estimated at SR 500,000 at the end of each year 11 the project is expected to provide salvage value (recovery) of SR 500,000 and the interest rate is 10%. What is the present equivalent for all investments, expenses and revenues?