Your company owns a minor league baseball team and is considering building a new stadium. The local governments refuse to help build the stadium, so you must fund it yourself. The stadium will cost $10,000,000 and will have a 20-year life span, after which it will be valueless. It will take a year to build, so you cannot use the stadium until the second year. You are planning to finance it with a loan. The loan will require that you make interest payments of $500,000 at the end of years one through five. At the end of year five, you will also have to make a balloon payment of the $10,000,000 principal. You expect that the operating profit from the new stadium will be $5,000,000 per year from the 2nd year (when the stadium will open) through the 21st year (when it will close). The accounting depreciation allowance will be $1,000,000 per year for the first 10 years, after which it will be zero. Your tax rate is 20 percent of your taxable profit. Your discount rate is 9 percent. The net present value of building the stadium is $(Round your answer to two decimal places.)