Please ensure accuracy when answering as the question is a challenge. You are a manager at Northern$$ Fibre, which is considering expanding its operations in synthetic fibre manufacturing. Your boss comes into your$$ office, drops a$$ consultant's report on your$$ desk, and$$ complains, $"$We owe these consultants $ $1\mathrm{.}7$ million for this$$ report, and I am not sure their analysis makes sense. Before we spend the $ $23$ million on new equipment needed for this$$ project, look it over and give me your$$ opinion." You open the report and find the following estimates$($in millions of$$ dollars$)$:b$.$ If the cost of capital for this project is $9\%,$ what is your estimate of the value of the new project?

Value of project $=$$ million $($Round to three decimal places.$)$PL