NU Co. has developed a new product. To get this improvement to the market will cost $48 million, but the project will return an additional $13.5 million for 5 years in net cash flows. The firm's debt-equity ratio is .25, the cost of equity is 10.6 percent, the pretax cost of debt is 3.5 percent, and the tax rate is 21 percent. All interest is tax deductible. What is the net present value of this proposed project?