You are a consultant to a company that is evaluating the expansion of its existing business. The cash flow projections for the project area (in millions of dollars) are as follows Year 0: 100 for initial expenditures, Years 1 through 10: 15 per year.

Based on the behavior of the company's stock, you believe that the company's beta is 1.5. What is the (risk-adjusted) NPV of the project, assuming a risk-free rate of return of 4 and an expected rate of return of 12 on a market portfolio?