What is the present value of the projected merger benefits as of December 31, 2015? Assume a WACC% of 6.18% and a terminal growth rate of 2.50% from 2022 onwards.

Projected Merger Benefits ($ millions)
Year	2016	2017	2018	2019	2020	2021
Pre-Merger Operational Improvements
Phase-in (%)	17%	42%	67%	92%	100%	100%
Increase in EBIT	$ 214	$ 529	$ 844	$ 1,159	$ 1,260	$ 1,260
Post-Mergert Combination Synergies
Phase-in(%)	0%	0%	25%	50%	75%	100%
Increase in EBIT	$ -	$ -	$ 124	$ 248	$ 371	$ 495
Porjected Total Increase in CP-NS EBIT	$ 214	$ 529	$ 968	$ 1,407	$ 1,631	$ 1,755
Incremental Cash Flows (EBIT*(1-t))	$ 136.96	$ 338.56	$ 619.52	$ 900.48	$ 1,043.84	$ 1,123.20