HysetCo moves to run 600 hydrogen cabs in Paris Paris will eventually see 600 fuel cell taxis. The long-running project HysetCo just acquired the cab operator Slota and plans to replace its 600-vehicle diesel fleet with the Toyota Mirai gradually. They also want to install two new hydrogen filling stations this year. The company has been on the scene. We first reported their efforts in early 2019 when Air Liquide, Idex, Socit du Taxi lectrique Parisien (STEP) and Toyota launched the joint venture. Back then, they considered HysetCo a major landmark for hydrogen transport and also wanted to further an existing fleet of fuel cell taxis called Hype. The initial aim was for 600 FCEVs to serve Parisians by the end of 2020. This would make also make it the largest fleet of taxis in the world using hydrogen as an energy source, according to the CEO of Toyota France, Frank Marotte. As a CFO of Hype, you are considering the purchase of 600 hydrogen cabs from TOYOTA. You received the 2 following financial offers: 1. Paying cash 30 million 2. You can rent the cabs for 5 years with the obligation to buy it at the end of year 5 for 17.4 million. The annual rental charge is 5 million (5 payments) and has to be paid at the beginning of each year. The first payment has to be paid immediately. If the appropriate opportunity cost is 5%, calculate the present value of the 2nd option. (in million $, Round to one decimal place)