Outside Inn Hotels is considering the construction of a new hotel for $63 milion. The expected life of the hotel is 6 years with no residual value. The hotel is expected to earn revenues of $19 mililon per year. Total expenses, Including depreciation, are expected to be $13 milion per year. Outside Inn management has set a minimum acceptable rate of return of 11%. Assume straight-line depreclation. Present Value of an Annuitv of $1 at Comoound Intarnet a. Determine the equal annual net cash flows from operatuog the hotel Round to the nearest million dollars. mulion b. Compute the net present value of the new botel using the present yalue of an wngulty of 1 L table above. Round to the nearest million dollars. If cequired. use the minus sign to indicate a negative bet present yalue. Net present value of hotel projectid miluon c. Daes your analysis support the purchase of the new hotel? because the net precent value is