your opinion." You open the report and find the following estimates $($in millions of dollars$)$:

for ten years, the project is worth $$42\mathrm{.}12$ million. You think back to your glory days in finance class and realize there is more work to be done!

accounting earnings are not the right thing to focus on$!$

b$.$ If the cost of capital for this project is $12\%,$ what is your estimate of the value of the new project?

b$.$ If the cost of capital for this project is $12\%,$ what is your estimate of the value of the new project?

Value of project $=$$ million $($Round to three decimal places.$)$