BOOM Show Me How Calculator Printem Net Present Value MethodAnnuity for a Service Company Amenity Hotels Inc. is considering the construction of a new hotel for $60 million. The expected life of the hotel is 9 years with no residual value. The hotel is expected to cam revenues of $18 million per year. Total expenses, Induding depreciation, are expected to be $12 million per year Amenity Hotel management has a minimum acceptable rate of return of 13% Determine the equal anual net cash flows from operating the hotel. Enter your answer in million. Round your answer to two decimal places million Present Value of an Annuity of si at Compound Interest Periods 10% 11% 12% 13% 14% 0.92593 0.91743 0.90909 0.90090 0.89286 0.88496 0.87719 1.78326 1.75911 1.73554 1.71252 1.69005 1.66810 1.64666 2.44371 2.40183 2.36115 2.32163 2.53129 3.23972 3.88965 2.48685 3.16987 3.79079 3.10245 3.03735 2.57710 3.31213 3.99271 4.62288 2.97447 2.91371 3.69590 3.60478 3.51723 3.43308 4.48592 4.35526 4.23054 4.11141 3.99755 3.88867 5.03295 4.86842 4.71220 4.56376 4.42261 4.28830 5.14612 4.96764 4.79677 4.63886 5.20637 5.74664 6.24689 6.71008 5.53482 5.99525 6.41766 5.33493 5.75902 6.14457 4.94637 5.53705 5.88923 5.32825 5.13166 5.650225.42624 5.21612 million dollars. If required, use the b. Compute the net present value of the new hotel, using the present value of an annuty of $i table above. Round minus sign to indicate a negative net present value Net present value of hotel projects million c. Does your analysis support construction of the new hotel? Yes , because the net present value is negative Check My Work 3 more Check My Work uses remaining Previous Not and Submit Assignment for Grading