14. Consider the following information on AJAX Corporation 9 O Bonds: 150,000 8% coupon bonds with face value 1000 selling tot $98. Common stock: 6,000,000 shares outstanding, selling for $70 per share. Most recent dividend equals $6. Preferred stock: 1,500,000 shares of preferred stock with an annual dividend payment of $5 and a price of $65. Dividend information on the common stock for a 5-year recent period is as follows: year 1: D = 4.00; year 2: D = 4.20; year 3: D = 4.25; year 4: D = 2.80; year 5: D = 4.80. = Beta = 1.8 Risk-free rate = 6% Market return = 13% Corporate tax rate = 35% Ajax is considering the purchase of a steel mill with an initial cost of $25,000,000. It is expected that the project will provide annual after-tax cash flows of $3,000,000 for 20 years first cash flow earned after the first year. Using the NPV decision rule, provide your best estimate as to whether AJAX should purchase this mining project