21. RiverRocks (whose WACC is 11.6%) is considering an acquisition of Raft Adventures (whose WACC is 15.4%). The purchase will cost $104.3 million and will generate cash flows that start at $15.1 million in one year and then grow at 4.4% per year forever. What is the NPV of the acquisition? The net present value of the project is $______ million? (Round to two decimal places.)

22. Your firm is planning to invest in an automated packaging plant. Harburtin Industries is an all-equity firm that specializes in this business. Suppose Harburtin's equity beta is 0.87, the risk-free rate is 3.7%, and the market risk premium is 5.3%. If your firm's project is all-equity financed, estimate its cost of capital. The cost of capital is ____%? (Round to one decimal place.)