Landman Corporation $($LC$)$ manufactures time series photographic equipment. It is currently at its target debt$-$equity ratio of $\mathrm{.}80.$ It's considering building a new $$59$ million manufacturing facility. This new plant is expected to generate aftertax cash flows of $$71$ million in perpetuity. The company raises all equity from outside financing. There arethree financing options:$1.$ A new issue of common stock. The flotation costs of the new common stock would be$8\mathrm{.}9$ percent of the amount raised. The required return on the company's new equity is$14$ percent. $2.$ A new issue of $20-$year bonds: The flotation costs of the new bonds would be $3\mathrm{.}7$ percent of the proceeds. If the company issues these new bonds at an annual couponrate of $5\mathrm{.}2$ percent, they will sell at par. $3.$ Increased use of accounts payable financing. Because this financing is part of the company's ongoing daily business, it has no flotation costs and the company assigns it a cost that is the same as the overall firm WACC. Management has a target ratio of accounts payable to long$-$term debt of $15.$ Assume there is no difference between thepretax and aftertax accounts payable costs. What is the NPV of the new plant? Assume that LC has a $24$ percent tax rate.