Tuja Ltd a book manufacturing company has a debt-to-equity ratio of 0.4. It is considering building a new $58 million manufacturing facility which would generate after-tax cash flow of $6.2 million in perpetuity. The flotation cost of the new shares would be 6 percent of the amount raised and its required return is 11%. The flotation cost of the new bonds would be 3 percent of the proceeds, with annual coupon rate of 6 percent which sells at face value. The accounts payable financing has a target ratio of accounts payable to non-current debt of 0.10 and a tax rate of 30 percent.

Required: What is the WACC and NPV of the new manufacturing facility? Assuming there is no difference between the pre-tax and after-tax accounts payable cost.