Landman Corporation (LC) manufactures time series photographic equipment. It is currently at its target debtequity ratio of 35 . It's considering building a new $35 million manufacturing facility. This new plant is expected to generate aftertax cash flows of $4.8 million in perpetuity. There are three financing options: a. A new issue of common stock: The required return on the company's new equity is 13 percent. b. A new issue of 20-year bonds: If the company issues these new bonds at an annual coupon rate of 5 percent, they will sell at par. c. Increased use of accounts payable financing: Because this financing is part of the company's ongoing daily 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 long-term debt of 15 . (Assume there is no difference between the pretax and aftertax accounts payable cost.) d. If the tax rate is 21 percent, what is the NPV of the new plant? Note: 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