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Marco Production had a current share price of $79, and the firm had 1,200,000 shares of stock outstanding. The company is considering an investment project

Marco Production had a current share price of $79, and the firm had 1,200,000 shares of stock outstanding. The company is considering an investment project that requires an immediate $16,000,000 investment but will produce cash flows of $4,700,000, $5,100,000, $8,700,000, and $7,200,000 in years 1 to 4, respectively. The aftertax salvage value when the project closes is $1,200,000. If Marco Production invests in the project, what would the new share price be? Marco Production's cost of capital is 15%. (Hint: consider how the project NPV affects the stock price)

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