Company is considering a project. The NPV of this project is $ (2.2m).In order to develop its Asian market, B company decides to use 7 years’ time to do some research and improve its technology. The cost of investment at year 7 is $ 20m.The NPV of this project is 0. But the BOD is very confident about the proceeds which the project will bring.The standard deviation is 0.25,and the risk free rate is 5%. Calculate the NPV of this project. (Assume the cost of capital is 12%)