A company has proposed a project that has initial costs of $10 million, on-going costs of $1.9 million per year and on-going benefits of $3.3 million per year. The project's life is 20 years. Assuming all on-going costs and benefits occur at the end of each year and that interest is calculated annually, what is the Net Present Value of the project given a discount rate of 8.4%?

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