Landman Corporation $($LC$)$ manufacters time series photographic equipment. It is currently at its target debt$-$equity ratio of $\mathrm{.}76.$It's considering bullding a new $$66\mathrm{.}6$ million manutacturing facility. This new plant is expected to generate aftertax cash flows of $$7\mathrm{.}91$ million in perpetulity. There are three financing options:

a$.$ A new issue of common stock: The required return on the company's new equily is $15\mathrm{.}4$ percent.

b$.$ A new issue of $20-$year bonds. If the company issues these new bonds at an annual coupon rate of $7\mathrm{.}5$ percent, they will sell at par.

c$.$ Increased use of accounts payable financing. Because this financing is part of the company's ongoing dally business, the company assigns it a cost that is the same as the overall firm WACC. Management has a target ratio of accounts payable to longterm debt of $\mathrm{.}13.($Assume there is no difiference between the pretax and aftertax accounts payable cost.$)$

If the tax rate is $21$ percent, what is the NPV of the new plant?

Note: A negative answer should be indieated by a minus sign. Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to $2$ decimal places, e$.$g$.,1,234,567\mathrm{.}89.$

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