Question: 8) River Rocks (whose WACC is 11.6%) is considering an acquisition of Raft Adventures (whose WACC is 15.3%). The purchase will cost $102.2 million and

8) River Rocks (whose WACC is 11.6%) is considering an acquisition of

River Rocks (whose WACC is 11.6%) is considering an acquisition of Raft Adventures (whose WACC is 15.3%). The purchase will cost $102.2 million and will generate cash flows that start at $15.2 million in one year and then grow at 3.8% 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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