Richmond Industries issued 1.5 million new shares of equity to raise $50 million to finance a new investment. The equity just started trading on the stock market and investors have learned that Richmond expects to earn free cash flows of $10 million each year in perpetuity. Richmond has 5 million shares outstanding, and it has no other assets or opportunities. Suppose the appropriate discount rate for Richmond's future free cash flows is 8% and the only capital market imperfections are corporate taxes and financial distress costs. 17) The NPV of Richmond's investment is closest to: a) $25 million b) $50 million c) $75 million d) $125 million