A farm currently producing 200,000 tonnes of maize per year costs $120 million to establish. Maize currently sells at a world price of $300 per tonne. The farm can be extended at a cost of $10 million in order to produce an extra 20,000 tonnes of maize per year forever (ie. in perpetuity). It is estimated that, as a result of the extra maize produced, the cost of variable inputs such as fuel, labour, materials etc would rise by $5 million per annum.

Assuming a real price of maize equal to the current world price and a 3% rate of discount (real), calculate the net present value, as indicated by the Market cost-benefit analysis, of extending the farm?