Problem 9-17b Question Help You are a manager at Northern Fibre, which is considering expanding its operations in synthetic fibre manufacturing. Your boss comes into your office, drops a consultant's report on your desk, and complains, "We owe these consultants $1.5 million for this report, and I am not sure their analysis makes sense. Before we spend the $27 million on new equipment needed for this project, look over and give me your opinion." You open the report and find the following estimates (in millions of dollars): Sales revenue Cost of goods sold = Gross profit - General, sales, and administrative expenses Depreciation = Net operating income - Income tax 1 30.000 18.000 12.000 2.160 2.700 7.1400 2.499 2 30.000 18.000 12.000 2. 160 2.700 7.1400 2.499 9 10 30.000 30.000 18.000 18.000 12.000 12.000 2. Become A Millionaire: 5 Simple Steps To Gain Wealth 2.700 2.700 7.1400 7.1400 2.499 2.499 b. If the cost of capital for this project is 9%, what is your estimate of the value of the new project? Value of project = $million (Round to three decimal places.) Enter your answer in the answer box and then click Check Answer. ? All parts showing Clear All Check