True Blue Magazines has a capital structure consisting of $250 million in debt and $750 million in equity. Debt can be issued at a cost of 9% p.a. compounded annually whilst the cost of equity for the firm is 12% p.a. The firm is considering a $50 million expansion of their production facility. The project has the same risk as the firm overall and is expected to generate after-tax income of $10 million per year for 10 years. What is the NPV of the expansion if the tax rate facing the firm is 30% and it operates under a classical tax system?