Question: #3 A new project is expected to generate cash flows of $216 million per year for 5 years. Your firms required return on this type

A new project is expected to generate cash flows of $216 million per year for 5 years. Your firms required return on this type of project is 6%. What is the maximum amount (in $ millions, rounded to one decimal place, e.g., 23.4) this company should pay to invest in this project (i.e., what is the present value of the expected cash flows from the investment)? Assume the cash flows will occur evenly throughout each year (use the mid-year adjustment approximation).

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