Consider a project to produce mind$-$controlled drones. This project requires a $$70$ million investment immediately and offers a pre$-$tax cash flow of $$20$ million at the end of the first year. After that, it will grow at $3\%$ annually for the next $7$ years, for a total of $8$ years. The unlevered cost of capital is $9\%.$

Suppose that the project is financed with $$56$ million of debt and $$14$ million of equity. The plan is to pay down ALL of the debt in equal annual installments over the project's $8$ year life. The interest rate paid on the debt is $8\%$ and the marginal corporate tax rate is $35\%.$ Calculate the value of this project. What is the project's net present value $($NPV$)?$