a$)$ A company wants to expand to $2$ new locations in New York. Company executives believe that this would initially cost $$20$ Millions to expand. The yearly FCF will begin at $$4$ milion in year $1$ and grow at $3\%$ per year. If the unlevered cost of equity for the grocery store Industry is $11\%$what is the NPV of this expansion? $($Answer in $ million$)$

b$)$ Next, the company explores the idea of using debt financing, the first option is to use $$18$ million of debt and hold debt at this level forever. The cost of debt $($and the interest rate$)$ is $6\%.$ The tax rate for is $20\%$ what is the NPV of the project under this first financing structure? $($Answer in $ million$)$

c$)$ The second financing option is to use a constant D$/$V ratio. Suppose the company wants to use a D$/$V of $0\mathrm{.}28.$ the cost of debt is $6\%.$ The tax rate is $20\%.$ What is the NPV of the project under this second financing structure?