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Consider a wind energy project that produces 549 GWh/yr and is able to sell this at a cost of $0.14/kWh. The project will also receive

Consider a wind energy project that produces 549 GWh/yr and is able to sell this at a cost of $0.14/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 $0.013/kWh plus a fixed amount of $186 thousand. The project is able to depreciate 11.52% of its total installed cost (which was $362 million) in this year, and it can write off the interest paid on the loan, which has a value of $15.4 million this year. The principal paid on debt is $19 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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