You have just been offered a contract worth $$1\mathrm{.}09$ million per year for $7$ years. However, to take the contract, you will

need to purchase some new equipment. Your discount rate for this project is $12\mathrm{.}4\%.$ You are still negotiating the

purchase price of the equipment. What is the most you can pay for the equipment and still have a positive NPV$?$

The most you can pay for the equipment and achieve the $12\mathrm{.}4\%$ annual return is $ million. $($Round to two

decimal places.$)$