Analyzing Initial Outlay and Cash Flows in Project FinancialAssessmentGiven the initial outlay for a project and its associated cash flows over a periodof time, explain how the initial outlay is calculated and how cash flows arerepresented in acash flow diagram. Based on the following values:•Initial outlay: $8,100,000•Cash flows: $3,956,000, $8,416,000, $10,900,000, $8,548,000,$5,780,000Describe the significance of the initial outlay and how it impacts the project'soverall financial analysis. What factors would you consider when evaluatingthe long-term viability of this project? (Word count: 400-500 words)