Tennessee Drilling is considering a $250 million investment to launch a new rail line. The project is expected to generate a free cash flow of $32 million per year, and its unlevered cost of capital is 8%. Tennessee Drilling corporate tax rate is 21%. Tennessee Drilling has 4 million shares of stock outstanding. Assuming that to fund the investment Tennessee Drilling will take on $250 million in permanent debt and ignoring issuance costs, the NPV of Tennessee Drilling 's new rail line is