ABC is considering building a new $40 million manufacturing plant. ABC's target debt-equity ratio is 1.2. The new plant is projected to bring in $5.5 million of after-tax cash flows indefinitely. Three financing alternative are: (a) A new equity issue, flotation cost 8 percent and expected return 18 percent. (b) A new equity issue of 20-year bonds flotation cost 3 percent, selling at par with an annual coupon rate of 9 percent. (c) More use of A/P financing, no flotation costs and assigned cost equal to ABC's WACC. Target ratio of A/P to long-term debt is 0.25. You can assume here that there is no difference between the before-tax and after-tax cost of A/P. Corporation tax of ABC is 35 percent. Determine NPV of the new production plant