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You are a consultant to a firm evaluating an expansion of its current business. The annual cash flow forecasts (in millions of dollars) for the

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You are a consultant to a firm evaluating an expansion of its current business. The annual cash flow forecasts (in millions of dollars) for the project are Based on the behaviour of the firm's stock, you believe that the beta of the firm is 15 . Assuming that the rate of return available on riskfree investments is 5% and that the expected rate of return on the market portfolio is 13%. What is the net present value of the project? (Enter your answers in millions. Round your answer to 2 decimal places. Use minus sign to enter negative answers, if any.)

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