Starbuck's is considering opening another store in Chicago. A store is expected to have a long economic life, but the valuation horizon is $8$ years. The store in Chicago is expected to create revenues of $$3\mathrm{.}0$M in the first year and they are likely to grow at $2\mathrm{.}5\%$ per year thereafter. The cost of goods sold is $$1\mathrm{.}6$M in year $1$ and it is also expected to grow at $2\mathrm{.}5\%$ per year thereafter. Selling and administration costs are likely to be $$0\mathrm{.}9$M in the first year and then grow at $3\mathrm{.}5\%.$ The tax rate is $35\%.$ Starbucks is so good at managing its stores that working capital increases can be assumed to be negligible. But Starbucks will have to invest $$5\mathrm{.}1$M in purchasing a store $($with land$).$ The good news is that this outlay can be straight line depreciated over $8$ years. Also, Starbucks has estimated that the after$-$tax terminal value in year $8$ dollars will be $$8\mathrm{.}9$M$.$ This value is the present value of all cash flows in year $9$ and beyond. What is the NPV of opening this new store if the appropriate discount rate is $6\mathrm{.}75\%?$