Ramblin Wreck is a firm specializing in engineering components. The firm is publicly traded and is considering the following project: The project will last 5.00 years with an annual cash flow of $40.00 million. The project will require an initial investment of $140.00 million The firm must determine the cost of capital to evaluate the project. (The project is within the firms normal activities)

Ramblin Wreck, Inc. Financial Data:

STOCK DATA: Current Price Per Share $30.00, # of Shares 2.00 million, Book Value $50 million

BOND DATA: Current Price Per Bond $924.00, # of bonds 20,000.00, Annual Coupon Rate 8.00% Face Value Per Bond $1,000 Maturity 10 years

The risk free rate in the economy is currently 2.00%, while investors have a market risk premium of 6.00%. Ramblin Wreck, Inc. has a beta of 1.40. The tax rate is 37.00%. What is the NPV of the project? (express in millions, so 1000000 would be 1.00) Please show your work.