RiverRocks, whose WACC is

11.7%,

is considering an acquisition of Raft Adventures (whose WACC is

15.7%).

The purchase will cost

$104.8

million and will generate cash flows that start at

$14.1

million in one year and then grow at

4.4%

per year forever. What is the NPV of the acquisition?

The net present value of the project is

$

million.(Round to two decimal places.)