A regional municipality is studying a water supply plan for its tri$-$city and surrounding area to the end of year $2070.$ To satisfy the water demand, one suggestion is to construct a pipeline from a major lake some distance away. Construction would start at the beginning of $2030$ and take five years at a cost of $$15$ million per year. The cost of maintenance and repairs starts after completion of construction and for the first year is $$3$ million, increasing by $2$ percent per year thereafter. At an interest rate of $9$ percent, what is the present worth of this project? Assume all cash flows take place at year$-$end. Consider the present to be the end of $2025/$beginning of $2026.$ Assume there is no salvage value at the end of year $2070.$

Click the icon to view the table of compound interest factors for discrete compounding periods when $i=9\%.$

The present worth of this project is $ million.

$($Round to two decimal places as needed.$)$