Velocity Incorporated (VI) is considering a project that involves building permanent housing facility in economically depressed localities. It is estimated that this project will cost $5,000,000, then generate $21,000,000 in revenues during its first and only year in operation (paid in one year). Operating expenses are expected to total $8 million during this year and depreciation expense will be another $2 million. VI will require no working capital for this investment. VI's marginal tax rate is 35% Given that VI's cost of capital for this project is 15%. What is the NPV of this permanent housing project?

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