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Assume GEM Inc. has a weighted average cost of capital of 12%. The company is considering investing in a new plant that will generate free

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Assume GEM Inc. has a weighted average cost of capital of 12%. The company is considering investing in a new plant that will generate free cash flow of $14 million over each of the next two years, and then $7 million each year thereafter forever. If the investment costs $91 million, what is the net present value (NPV) of the project? (Answer in million dollars with 2 decimal places.)

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