Amenity Hotels Inc. is considering the construction of a new hotel for $80 million. The expected life of the hotel is 5 years with no residual value. The hotel is expected to earn revenues of $21 million per year. Total expenses, including depreciation, are expected to be $16 million per year. Amenity Hotels' management has set a minimum acceptable rate of return of 8%. a. Determine the equal annual net cash flows from operating the hotel. Enter your answer in million. Round your answer to two decimal places. $x million Present Value of an Annuity of $1 at Compound Interest b. Compute the net present value of the new hotel, using the present value of an annuity of $1 table above. Round to the nearest million dollars. If required, use the minus sign to indicate a negative net present value. Net present value of hotel project: $ X million