york: Chapter $13$ Homework Problems

RiverRocks $($whose WACC is $11\mathrm{.}9\%)$ is considering an acquisition of Raft Adventures $($whose WACC is $15\mathrm{.}7\%).$ The purchase will cost $$103\mathrm{.}4$ million and will generate cash flows that start at $$15\mathrm{.}4$ million in one year and then grow at $4\mathrm{.}4\%$ per year forever. What is the NPV of the acquisition? $q,$

The net present value of the project is $ $$ million. $($Round to two decimal places.$)$