Question: River Rocks (whose WACC is 11.7%) is considering an acquisition of Raft Adventures (whose WACC is 14.8%). The purchase will cost $104.1 million and will

River Rocks (whose WACC is 11.7%) is considering an acquisition of

River Rocks (whose WACC is 11.7%) is considering an acquisition of Raft Adventures (whose WACC is 14.8%). The purchase will cost $104.1 million and will generate cash flows that start at $14.1 million in one year and then grow at 3.5% 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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