Net Present Value Method-Annuity for a Service Company Amenity Hotels Inc. is considering the construction of a new hotel for $48 million. The expected life of the hotel is 8 years w residual value. The hotel is expected to earn revenues of $14 million per year. Total expenses, including depreciation, are ex to be $10 million per year. Amenity Hotels' management has set a minimum acceptable rate of return of 12%. a. Determine the equal annual net cash flows from operating the hotel. Enter your answer in million. Round your answer two decimal places. million Present Value of an Annultv of 11 at Camman... .... b. Compute the net present value of the new hotel, using the present value or an procity or $1 table above. Round to the nearest milion dollars. If required, use the minus sign to indicate a negative net present value. c. Does your anshurin support construction of the new hotel? , because the net present value is