Please answer 8.19, the other questions are for supplemental information. Thank you and my i please see the steps for 8.19?

8.13 a new plant to produce tractor gears requires an initial investment of $10 million. It is expected that a supplemental investment of $4 million will be needed every 3 years to update the plant. The plant is expected to start producing gears 2 years after the initial investment is made (at the start of the third year)Revenues of $5 million per year are expected to begin to flow at the start of the fourth year Annual operating and maintenance costs are expected to be $2 million per year. The plant has a 15-year life. List the annual cash flows. Ans. CF = -$10 000 000, CF = CF = 0, CF , = $6 000 000, CF = CF , = CF, = CF, - CFO - CF II = CFB - CF4 = $3 000 000, CF, - CF, = 12 - CFLs - -$1 000 000 . 8.14 What is the NPV of the plant in Problem 8.13 if the interest rate is 10% per year, compounded annually? Ans. $5 336 64533 8.15 Is the plant described in Problems 8. 13 and 8.14 an economically acceptable investment? Ans. No. because the NPV is negative