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A firm is considering a project that will result in the cash flows described below: An immediate investment of 46 million is required. Additional investments

A firm is considering a project that will result in the cash flows described below: An immediate investment of 46 million is required. Additional investments of 7 million will be required at the end of the year for each of the next 4 years. The project will generate 15 cash inflows, which will be paid annually. The first cash flow occurs at the end of year 5 and will be in the amount of 30 million. Each subsequent cash inflow will be 2 million less than the previous one. Assuming that the cost of capital is 12%, calculate the NPV of this project, in millions of dollars. 21.815 21.231 20.062 19.478 20.646

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