Retlaw Corporation (RC) manufactures time-seties photographic equipment it is currently at its target debt-equity ratio of 0.88 . It's considering building a new $39 million manufacturing facility. This new plant is expected to generate after-tax cash flows of $8.5 milion in perpetuity The company raises all equity from outside financing. There are three financing options: 1. A new issue of commion stock. The flotation costs of the new common stock would be 10% of the amount raised. The required refurn on the company's new equity is 14% 2. 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 3. Increased use of accounts payable financing: Because this financing is part of the company's ongoing dally business, it has no flotation costs, and the company assigns it a cost that is the same as the overall form WACC Management has a target ratio of accounts payable to long-term debt of 0160 (Assume there is no difference between the pre-tax and after-tax accounts payabie cost) What is the NPV of the new plont? Assume that RC has a 40 s tax rate. (Enter the onswer in dollors. Do not round intermediete colculations. Round the WACC percentoge to 2 decimal ploces. Round the finel onswer to 2 decimal ploces. Omit $ sign in your response.) NPV 5