Longhorn, Incorporated, has produced rodeo supplies for over $20$ years. The company currently has a debt$-$equity ratio of $55$ percent and the tax rate is $23$ percent. The required return on the firm$$s levered equity is $14$ percent. The company is planning to expand its production capacity. The equipment to be purchased is expected to generate the following unlevered cash flows:

Year Cash Flow

$0$$ $18,400,000$

$15,740,000$

$29,540,000$

$38,840,000$

The company has arranged a debt issue of $$9\mathrm{.}42$ million to partially finance the expansion. Under the loan, the company would pay interest of $9$ percent at the end of each year on the outstanding balance at the beginning of the year. The company also would make year$-$end principal payments of $$3,140,000$ per year, completely retiring the issue by the end of the third year. What is the APV 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$.,1,234,567\mathrm{.}89)$