You are a manager at Northem Fibrewhich is considering expanding is operations in synthetic fbre manufacturing Your boss comes into your office drops a consultant's report on your desk and complains, We owo these comutants $1.6 million for this report, and I am not sure their analysis makes sense. Before we spend the 525 million on new equipment needed for this project, look it over and give me your opinion. You open the report and find the following estimates on milions of dollars 1 2 10 Save 30.000 30.000 30.000 30.000 -Cost of goods sold 18.000 18.000 18.000 18.000 Gross proft 12.000 12.000 12.000 12.000 - General, and administrative expenses 2.000 2000 2.000 2.000 -Depreciation 2.500 2.500 2.500 2.500 Not operating income 7.5000 75000 7.5000 7.5000 - income tax 2.625 2625 2.625 2.625 Not income 4875 4.875 4.875 4.875 b. W the cost of capital for this project is 10%, what is your estimate of the value of the new project? Wun of prod milion (Round to three decimal places)