Landman Corporation (LC) manufactures time series photographic equipment. it is currently at its target debt-equity ratio of 35 . II's considering building a new $35 million manufacturing facility This new plant is expected to generate aftertax cash flows of $48 million. in perpetuity. There are three financing options: 0. A new issue of common stock The required retum on the companys 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 self at par. c. Increased use of accounts payable financing Because this financing is part of the compary's ongoing daily business, the company assigns it a cost that is the same as the overall firm WACC. Management has a target rato 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 colculations and enter your answer in dollers, not millions of dollors, rounded to 2 decimal ploces, e.g. 1,234,567.89