You are a real estate investor and you are considering an offer to buy an office building for a price of $119,000,000

You project that the building will generate net annual cash flows (starting at the end of the 1st year and continuing on in perpetuity) of $7,000,000

If you require a 1% rate of return for similar investments, what is the NPV (Net Present Value) of the investment

(Answer to the nearest $0.01)