McCann Catching, Inc. has 2.00 million shares of stock outstanding. The stock currently sells for $12.59 per share. The

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McCann Catching, Inc. has 2.00 million shares of stock
outstanding. The stock currently sells for $12.59 per share. The
firm’s debt is publicly traded and was recently quoted at 88.00% of
face value. It has a total face value of $20.00 million, and it is
currently priced to yield 10.00%. The risk free rate is 4.00% and
the market risk premium is 8.00%. You’ve estimated that the firm
has a beta of 1.10. The corporate tax rate is 36.00%.
The firm is considering a $47.03 million expansion of their
production facility. The project has the same risk as the firm
overall and will earn $10.00 million per year for 8.00 years.
What is the NPV of the expansion? (answer in terms of millions,
so 1,000,000 would be 1.0000)