Georgia Movie Company has a capital structure with 42.00% debt and 58.00% equity. The cost of debt for the firm is 8.00%, while the cost of equity is 13.00%. The tax rate facing the firm is 39.00%.

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 $2.66 million, and it also expects cash flows from the movie operation to increase by 3.00% each year going forward. The company wants to examine the project over a 12.00-year period.

What is the WACC for this project?Answer format: Percentage Round to: 2 decimal places (Example: 9.24%, % sign required. Will accept decimal format rounded to 4 decimal places (ex: 0.0924))

What is the NPV of this project? (express answer in millions, so 1,000,000 would be 1.00)Answer format: Currency: Round to: 2 decimal places.