Question: i need an explanation and answer to this finance problem. MeCann Catching, Inc. has 3.00 million shares of stock cutstanding. The stock currently solls for

i need an explanation and answer to this finance problem.

MeCann Catching, Inc. has 3.00 million shares of stock cutstanding. The stock currently solls for $12.92 per share. The firm's debt is publicly traded and was recently quoted at 88.00% of face value, th has a total face value of $20.00 million, and it is currently priced to yeid 9.00%. The risk free rate is 3.00% and the markot risk premium is 8.00%. You've estimated that the firm has a beta of 1.49. The corporate tax rate is 34.00%. The firm is considering a $42.53 million expansion of their production facility. The project has the same risk as the firm overall and will earn $12.00 million per year for 6.00 yeark. What is the NPV of the expansion? (anawer in terms of millions, so 1,000,000 would be 1.0000 ) Answer Format: Currency: Round to: 4 decimal places

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