Net present value method-annuity for a service company Stay-In-Style (SIS) Hotels Inc. is considering the construction of a new hotel for $72 million. The expected life of the hotel is 7 years with no residual value. The hotel is expected to earn revenues of $22 million per year. Total expenses, including depreciation, are expected to be $15 million per year. Stay-In-Style Hotels' management has set a minimum acceptable rate of return of 13%. a. Determine the equal annual net cash flows from operating the hotel. Enter your answer in million. Round your answer to two decimal places. million Present Value of an Annuity of $1 at Compound Interest Periods 8% 9% 1 0.92593 0.91743 2 3 2.57710 4 10% 11% 0.90909 0.90090 1.78326 1.75911 1.73554 1.71252 1.69005 1.66810 2.53129 2.48685 2.44371 2.40183 2.36115 3.31213 3.23972 3.16987 3.10245 3.03735 2.97447 12% 13% 14% 0.89286 0.88496 0.87719 1.64666 2.32163 5 7 8 9 10 5.75902 5.53705 6.14457 5.88923 3.99271 3.88965 4.62288 4.48592 4.35526 4.23054 4.11141 3.99755 3.88867 5.20637 5.03295 4.86842 4.71220 5.74664 5.53482 5.33493 5.14612 6.24689 5.99525 6.71008 6.41766 2.91371 3.79079 3.69590 3.60478 3.51723 3.43308 4.56376 4.42261 4.28830 4.96764 4.79677 4.63886 5.32825 5.13166 4.94637 5.65022 5.42624 5.21612