Blossom Company is considering buying a new farm that it plans to operate for $10$ years. The farm will require an

initial investment of $$12\mathrm{.}00$ million. This investment will consist of $$2\mathrm{.}85$ million for land and $$9\mathrm{.}15$ million for

trucks and other equipment. The land, all trucks, and all other equipment are expected to be sold at the end of $10$

years for a price of $$5\mathrm{.}20$ million, which is $$2\mathrm{.}20$ million above book value. The farm is expected to produce revenue

of $$2\mathrm{.}05$ million each year, and annual cash flow from operations equals $$1\mathrm{.}85$ million. The marginal tax rate $25$

percent, and the appropriate discount rate is $9$ percent. Calculate the NPV of this investment. $($Do not round factor

values. Round final answer to $2$ decimal places, e$.$g$.5,275\mathrm{.}25.)$

NPV $

The project should be