Question: 16. River Rocks (whose WACC is 12.4%) is considering an acquisition of Raft Adventures (whose WACC is 14.4%). The purchase will cost $101.4 million and

16. River Rocks (whose WACC is 12.4%) is considering an acquisition

16. River Rocks (whose WACC is 12.4%) is considering an acquisition of Raft Adventures (whose WACC is 14.4%). The purchase will cost $101.4 million and will generate cash flows that start at $14.9 million in one year and then grow at 4.4% per year forever. What is the NPV of the acquisition? The net present value of the project is $ million. (Round to two decimal places.)

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