You are a manager at Northem Fibre, which is considering expanding its operations hn synthete fibre manylacturing Your boss comes into your offoe, orcos a sorsulart's noort oo your thek and complains, We ose these consuland give me your opinion. "You open the report and find the folowing estimates (in mlilions of dolars): Al of the estimates in the report seement recommended for financial reporting purposes. CRA allows a CCA rate of 39% on the equipment for tax purposes. The report concludes that becaise th. have attributed 51.35 million of selling. general and administrative expenses to the proyet b. If the cost of capital for this project is 14%, what is your estimate of the value of the new project? b. If the cost of capital for this proyect is 14%, What is your estimate of the value of the new peoject? Value of propect 1 f milion (Round to three decimal plises.)