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In a chemical plant, a certain reaction vessel must be replaced each year due to the abrasive nature of the chemical. The cost is $93000

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In a chemical plant, a certain reaction vessel must be replaced each year due to the abrasive nature of the chemical. The cost is $93000 per replacement and the first replacement is needed from the end of Year 1 and this cost is due to increase at 3.7% per year due to inflation. The WACC is estimated to be 7.5% p.a. The chemical plant will has a life span of 11 years. Replacement of the reaction vessel will not be necessary at the end of the chemical plant's life. The the future value (at the end of the chemical plant's life) of all replacement cost of the reaction vessel is $ millions. Leave your answer as a positive value with 2 decimal places

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