Question: River Rocks, whose WACC is 11.7%, is considering an acquisition of Raft Adventures (whose WACC is 14.3%). The purchase will cost $103.7 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 14.3%). The purchase will cost $103.7 million and will generate cash flows that start at $15.3 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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