Suppose Fried Fritters Ltd$.$ pays a corporate tax rate of $30\%$ and is financed as follows:

$30\%$ senior secured debt with an annual yield of $4\mathrm{.}8\%$

$10\%$ unsecured junior debt with an annual yield of $9\mathrm{.}9\%$

$50\%$ common shares with an annual return on equity of $7\mathrm{.}0\%$

$10\%$ preferred shares with an annual return on equity of $8\mathrm{.}0\%$

The company is considering investing in a one$-$day training program for its chefs that will cost $$10$ million today, January $1.$ The trained chefs would then generate $$1$ million of extra revenue at the end of each year $($December $31)$ for $16$ years and then zero thereafter.

Calculate the NPV of the program; type your answer in the box below, rounded to the nearest dollar.