A retail coffee company is planning to open 110 new coffee outlets that are expected to generate $14.7 million in free cash flows per year, with a growth rate of 3.1% in perpetuity. If the coffee...

Extracted text: A retail coffee company is planning to open 110 new coffee outlets that are expected to generate $14.7 million in free cash flows per year, with a growth rate of 3.1% in perpetuity. If the coffee company's WACC is 10.4%, what is the NPV of this expansion? The present value of the free cash flows is $ million. (Round to two decimal places.)