answer is not 32.784

Question Help You are a manager at Northern Fibre, which is considering expanding its operations in synthetic fibre manufacturing Your boss comes into your office drops a consultant's report on your desk and complains, "We owe these consultants $1.8 million for this report and I am not sure the analysis makes sense. Before we spend the $17 million on new equipment needed for the project, look over and give me your opinion. You open the report and find the following estimates in millions of dollars) 1 2 9 10 Sales revenue 35.000 35.000 35.000 35.000 -Coot of goods sold 21.000 21.000 21.000 21.000 -Gross profil 14.000 14.000 14.000 14.000 - General, sales, and administrative expenses 1.360 1.300 1,360 1.360 -Depreciation 1.700 1.700 1.700 1.700 Net operating income 10.9400 10 9400 10.9400 10.9400 -Income tax 3.829 3.829 3.829 3.829 Noticon 7.111 7,111 7.111 7111 the cost of capital for this project is 12%, what is your estimate of the value of the new project? Value of project million (Round to three decimal places)