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Retlaw Corporation ( RC ) manufactures time - series photographic equipment. It is currently at its target debt equity ratio of 0 . 8 7

Retlaw Corporation (RC) manufactures time-series photographic equipment. It is currently at its target debtequity ratio of 0.87. Its considering building a new $57 million manufacturing facility. This new plant is expected to generate after-tax cash flows of $9.4 million in perpetuity. The company raises all equity from outside financing. There are three financing options:
A new issue of common stock: The flotation costs of the new common stock would be 9% of the amount raised. The required return on the companys new equity is 15%.
A new issue of 20-year bonds: The flotation costs of the new bonds would be 4% of the proceeds. If the company issues these new bonds at an annual coupon rate of 8.0%, they will sell at par.
Increased use of accounts payable financing: Because this financing is part of the companys ongoing daily business, it has no flotation costs, and the company assigns it a cost that is the same as the overall firm WACC. Management has a target ratio of accounts payable to long-term debt of 0.175.(Assume there is no difference between the pre-tax and after-tax accounts payable cost.)
What is the NPV of the new plant? Assume that RC has a 35% tax rate. (Enter the answer in dollars. Do not round intermediate calculations. Round the WACC percentage to 2 decimal places. Round the final answer to 2 decimal places. Omit $ sign in your response.)
NPV $ 25894226.50 this is a wrong answer can you pls give right answer asap

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