Question 24 (1 point) A firm is considering buying machinery to manufacture toys. The toy manufacturing project is expected to last for 20 years. The equipment to be used for the project is has an up-front cost of $40 million and will be depreciated straightline over the 20 year life of the project. The equipment will have no salvage value after 20 years. The firm expects it will be able to manufacture 500,000 toys per year, each of which it expects to sell for $20. The variable cost associated with producing each toy is expected to be $3. The fixed costs associated with the toy manufacturing project are expected to be $2 million per year. The firm's tax rate is 28%. The required rate of return for this project is 13% per year compounded annually. What is the net present value breakeven price at which each toy is sold for this project? Round all calculations to 6 decimal points. Your final answer should be within 10 of the correct answer choice. $21.26 $18.26 51726 $19.26