You are evaluating a project with the following expected cash flows: an initial investment of $8 million, followed by cash flows of $3, $8 and $16 million in years 1, 2 and 3, respectively. If the company's discount rate is 16%, what is this projects NPV?

Enter your answer in millions of dollars (rounded), with no decimals. For example, if the answer is 10.895 million, enter 11.