A new plant to produce steel tubing requires an initial investment of $65 million. It is expected to require an additional investment of $ 2 million in year 3 and an investment of $ 5 million in year 6. Annual operating cost will be $ 3.5 million. The Annual revenues will be $ 55 million which is expected to increase by 3% every year. The life of the plant is 10 years. If the interest rate is 8% per year. Determine the NPV of this project What is the Discounted Payback period