Diamond Cruise lines is considering buying a cruise ship from a soon to be insolvent competitor. The following information is available (all amounts in $millions):

1. The investment will generate a pre-tax profit of $50 per year over 5 years. Costs for depreciation are included in the pre-tax profit.
2. The ship costs $300, and will immediately require a $120 refurbishment. The ship is considered to be a single asset (to make things easier for accounting exams), will be straight line depreciated over 5 years, and has a salvage value of $20.
3. The tax rate is 30%, and the CCA rate on the ship is 15%
4. $10 in items related to working capital needs to be on-hand at all times.
5. The investor is also considering a similar investment that will generate an after tax return of 10%.

Required:

Calculate the Net Present Value of this project