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Georgia Movie Company has a capital structure with 41.00% debt and 59.00% equity. The cost of debt for the firm is 9.00%, while the cost

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Georgia Movie Company has a capital structure with 41.00% debt and 59.00% equity. The cost of debt for the firm is 9.00%, while the cost of equity is 15.00%. The tax rate facing the firm is 40.00%. The firm is considering opening a new theater chain in a local college town. The project is expected to cost $12.00 million to initiate in year 0. Georgia Movie expects cash flows in the first year to be $2.83 million, and it also expects cash flows from the movie operation to increase by 4.00% each year going forward. The company wants to examine the project over a 10.00-year period, What is the NPV of this project? (express answer in millions, 501,000,000 would be 1.00 ) Answer format: Currency: Round to: 2 decimal places

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