Net Present Value Method - Annuity for a Service Company Amenity Hotels Inc. is considering the construction of a new hotel for $63 million. The expected life of the hotel is 8 years with no residual value. The hotel is expected to earn revenues of $19 milion per year. Total expenses. Including depreciation, are expected to be $13 million per year. Amenity Hotels' management has set a minimum acceptable rate of return of 11% a. Determine the equat annual net cash flows from operating the hotel. Enter your answer in million. Round your answer to two decimal places. million 13% 14% 0.88496 1.66010 0.87719 1.64666 2.32363 2.36115 Present Value of an Annuity of Si at Compound Interest Periods 8% 99 10% 11% 12% 1 0.92593 0.91743 0.90909 0.90090 0.89286 2 1.78326 1.75911 1.73556 1.71252 1.69005 3 2.52710 2:53:29 2.48685 2.44371 2.40133 4 3.31213 3.23972 3.16987 3.10245 3.03735 5 3.99271 3.80965 3.79079 3.69590 3.60478 6 4.62230 4.46592 4.35526 4.23054 4.11143 7 5.20637 5.03295 436842 4.71220 4.5678 B 5.24664 5.53492 5.33493 5.14612 4.96764 9 6 24689 5.99525 5.75902 5.53705 $32525 6.71000 6.43766 6.14457 5.58923 5.65022 2.97447 2.92371 343305 3.51723 3.99755 3.68867 4.28830 4,42261 4179677 S.11366 5.42624 4.63856 4.14637 5.21612 b. Compute the net present value of the new hotel in the value cant of $1 table above Round to the nearest million dollars. If required, use the minus sign to indicate a negative net presente het present value of nobel project million Does your analysis support contruction of the new hotel because the net presentare