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= Homework: Lab #2 Question 16, Problem 9-17b > HW Score: 24.07%, 13 of 54 points O Points: 0 of 4 Save 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 $1.8 million for this report, and I am not sure their analysis makes sense. Before we spend the $24 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) 1 2 9 10 Sales revenue Cost of goods sold = Gross profit - General, sales, and administrative expenses Depreciation = Net operating income - Income tax 31.000 18.600 12.400 1.920 2.400 8.0800 2.828 31.000 18.600 12.400 1.920 2.400 8.0800 2.828 31.000 18.600 12.400 1.920 2.400 8.0800 2.828 31.000 18.600 12.400 1.920 2.400 8.0800 2.828 . b. If the cost of capital for this project is 13%, what is your estimate of the value of the new project? Value of project = $ million (Round to three decimal places.) Help me solve this View an example Ask my instructor Clear all Check