You are valuing a property using the cost approach. The property sits on a $10m lot, and the cost of re-building a similar but new structure is $15m. The structure's useful life is 50 years, and this building is 10 years old. Moreover, because it is an older building, the energy costs are $100K higher (per year) compared to similar but recently-built buildings. Report the value of the property in $m. Use straight-line depreciation and assume a 5% risk-free discount rate.

The answer is 19.28 but I don't know how to solve it.