Wilma is considering opening a widget factory. The unlevered cost of equity for making widgets is 0.14. This factory would cost $20 million to set up, and would produce EBIT of $2 million per year for the foreseeable future. She is thinking of applying for a $1 million subsidized perpetual loan to finance this project. Complying with the auditing requirements of this loan would have a present value of $2 million. This loan would have a rate of 0.05, while the rate she could get from the bank is 0.08. Her tax rate is 0.33. What is the NPV, of this project, using the APV method