Retlaw Corporation (RC) manufactures time-series photographic equipment. It is currently at its target debt-equity ratio of 0.84 . It's considering building a new $42 million manufacturing faclity. This new piant is expected to generate after-tax cash flows of $7.2 mulion in perpetuly. The company ralses all equlty from outside financing. There are three financing options: 1. Anew issue of common stock: The flotation costs of the new common stock would be 8% of the amount ralsed. The required return on the company's new equity is 15%. 2. 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 anrual coupon rate of 8.0%, they will sell at par 3. Increased use of accounts payable financing: Because this findancing is part of the compary's ongoing daly 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 rotio of accounts payable to long-term debt of 0.160. (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 25% tax tate. (Enter the answer in dollars. Do not round intermediate calculations. Round the WACC percentoge to 2 decimal places. Round the finol answer to 2 decimal ploces. Omit 5 sign in your response.) NPV