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You have just been offered a contract worth $1.07 million per year for 66 years. However, to take the contract, you will need to purchase

You have just been offered a contract worth $1.07 million per year for 66 years. However, to take the contract, you will need to purchase some new equipment. Your discount rate for this project is 11.9%. 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 achive the 11.9% annual return is $_____ million.

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