You have just been offered a contract worth $1.14 million per year for 55 years.? However, to take the? contract, you will need to purchase some new equipment. Your discount rate for this project is 12.2%.
You are still negotiating the purchase price of the equipment. What is the most you can pay for the equipment and still have a positive NPV??
The most you can pay for the equipment and achieve the 12.2% annual return is _______ million. ?(Round to two decimal? places.)