Halcyon Lines is considering the purchase of a new bulk carrier for $7.3 million. The forecasted revenues are $6.3 million a year and operating costs are $5.3 million. A major refit costing $3.3 million will be required after both the fifth and tenth years. After 15 years, the ship is expected to be sold for scrap at $2.8 million. a. What is the NPV if the opportunity cost of capital is 9%?