With excel sheet please

Question 15 20 pts It is the end of 2016, and Kelly Chen, the CFO of Precision Memory, had recently been given a proposal for a major new product line, which was expected to have a significant impact on the company's sales, profits, and cash flows. This new product line had been in development for the past year, and $1.5 million had already been spent taking the product from the concept stage to the point where working prototypes had been built and were currently being tested. The project's sponsors were confident that it would generate sales of at least $25 million in 2017 (its first year of operation), and $30 million in 2018 and 2019, before falling off to $14 million in 2020 and $8 million in 2021. The cost of goods sold would be 75% of sales throughout the life of the product. The company also expected to incur SG&A expenses of about 7% of sales, but in addition, the marketing managers also planned a one-time $1.5 million advertising and promotion campaign simultaneous with the launch of the product in 2017. Implementing this new product line would also require large investments and expenditures by the company. The plant would be built on land that is currently unused, but the CFO's office believed that this land could be easily rented out at a rental of $0.6 million, with rent paid in advance. New plant and equipment costing $5 million must be purchased now. And, this specific equipment would be depreciated straight-line for tax purposes to a zero-book value over its five-year life. The depreciation expense all flowed to the cost of goods sold and was already included in the estimate that cost of goods sold would be 75% of sales. Despite its zero-book value, the company expected to sell the machines for a scrap value of $1 million. Precision also expected net working capital would be 15% of sales. This initial investment in net working capital would occur at the beginning of 2017 (or the end of 2016), and in subsequent years the net working capital would increase and then decrease as sales of the new product rose and then fell. Precision Memory Limited is a highly profitable company and is expected to remain profitable in the foreseeable future. It is subject to a tax rate of 30%. Precision uses a 6% discount rate for its projects. What is the NPV of this project? Please input your answer in millions of $ rounded to two decimal places but without the $ sign