A Corporation plans to issue equity to raise $78,203,492 to finance a new investment. After making the investment, the firmexpects to earn free cash flows of $13,360,860 each year. The firmcurrently has 4,066,776 shares outstanding, and it has no other assets or opportunities. Suppose the appropriate discount rate for the firmfuture free cash flows is 7.73%, and the only capital market imperfections are corporate taxes and financial distress costs.

What is the NPV of the firm'sinvestment?

NOTE:Submit your answers with 4decimals after thedot.