You are considering opening a new plant. The plant will cost $$$$99\mathrm{.}9699\mathrm{.}96$ million up front and will take one year to build. After$$ that, it is expected to produce profits of $$$$29\mathrm{.}9729\mathrm{.}97$ million at the end of every year of production. The cash flows are expected to last forever. Calculate the NPV of this investment opportunity if your cost of capital is $8\mathrm{.}22\%8\mathrm{.}22\%.$ Should you make the$$ investment? Calculate the IRR and use it to determine the maximum deviation allowable in the cost of capital estimate to leave the decision unchanged.

Question content area bottom

Part $1$

The NPV of the project will be $$$enter your response here million.$($Round to two decimal$$ places.$)$