You are a manager at Northern Fibre, which is considering expanding its operations in synthetic fibre manufacturing Your boss comes into your office drops a consultant's report on your desk, and complains, We owe these consultants $16 million for this report, and I am not sure thoir analyses makes sense. Before we spend the $15 million on new equipment needed for this project, took it over and give me your opinion. You open the report and find the following estimates in millions of dollars 1 2 9 10 Sales revenue 33 000 33 000 33.000 33 000 - Cost of goods sold 19.000 10.800 19.800 19 800 -Gross profit 13 200 13 200 13 200 13 200 General Sales and administrative expenses 1 200 1 200 1 200 1.200 -Depreciation 1 500 1 500 1 500 1.500 - Net Operating incomo 10.5000 10.5000 10 5000 10 5000 Income tax 3.675 3675 3.675 3.675 bit the cost of capital for this project is 16% what is your estimate of the value of the new project? Value of project = 5 million (Round to three decimal places)