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Jiminez, Incorporated, is an all - equity firm. The cost of the company's equity is currently 1 1 . 2 percent and the risk -

Jiminez, Incorporated, is an all-equity firm. The cost of the company's equity is currently
11.2 percent and the risk-free rate is 4.1 percent. The company is currently considering a
project that will cost $11.85 million and last six years. The company uses straight-line
depreciation. The project will generate revenues minus expenses each year in the
amount of $3.49 million. If the company has a tax rate of 25 percent, what is the net
present value of the project? (Do not round intermediate calculations and enter your
answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g.,
1,234,567.89
Net present value
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