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Consider a wind energy project that produces 442 GWh/yr and is able to sell this at a cost of $0.13/kWh. The project will also receive

Consider a wind energy project that produces 442 GWh/yr and is able to sell this at a cost of $0.13/kWh. The project will also receive income in this year from the PTC, at a value of $0.024/kWh. The annual operating expenses come out to be $0.011/kWh plus a fixed amount of $205 thousand. The project is able to depreciate 11.52% of its total installed cost (which was $393 million) in this year, and it can write off the interest paid on the loan, which has a value of $14.5 million this year. The principal paid on debt is $20 million and the tax rate for the company which owns the project is 35%.

What is the total taxable income (TI) in millions of dollars? Round answer to two decimal places (answer may be negative).

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