You are a manager at Northern Fibre, which is considering expanding its operations in synthetic fibre manufacturing. Your boss cornes into your office, drops a consultant's report on your desk, and complains, We owe these consultants $1.7 million for this report, and i am not sure their analysis makes sense. Before we spend the $20 million on new equipment needed for this project, look it over and give me your opinion" You apen the report and find the following estimates (in millions of dollars): b. If the cost of capital for this project is 3%, what is your astmate of the value of the new prejectr Value of project =5 million (Round to three decimil places.)