General Motors has a weighted average cost of capital of 9%. GM is considering investing in a new plant that will save the company $25 million over each of the first two years, and then $10 million each year thereafter. If the investment is $100 million, what is the net present value (NPV) of the project?
$39.7 million
$37.5 million
$36.5 million
$34.2 million