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Sunland Company is considering buving a new farm that it plans to operate for 10 years. The farm will require an initial irwestment of $12.00

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Sunland Company is considering buving a new farm that it plans to operate for 10 years. The farm will require an initial irwestment of $12.00 million. This irvestment will consist of $2.55 miltion for tand and $9.45million for trucks and other equipment. The land, all trucks, and all other equipment are expected to be sold at the end of 10 years for a price of $5.00 million, which is $2.35million above book value. The farm is expected to produce revenue of $2.05 million each year, and annual cash flow from operations equals $1.95 million. The marginal tax rate is 25 percent, and the appropriate discount rate is 10 percent. Calculate the NPV of this irvestment. (Do not round foctor values. Round finol aniwer to 2 decimal ploces es. 5.275.25.) NPV The project should be

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