COWLAND COPR plans to issue equity to raise $49.3 million to finance a new investment. After making the? investment, COWLAND COPR expects to earn free cash flows of $10.4 million each year.? COWLAND COPR's only asset is this investment opportunity. Suppose the appropriate discount rate for? COWLAND COPR's future free cash flows is 7.6%,and the only capital market imperfections are corporate taxes and financial distress costs.
a) What is the NPV of COWLAND COPR'S Investment?
The NPV of COWLAND COPR's investment is $___ million. - Round to two decimal places
b) What is the value of COWLAND COPR if it finance the investment with equity?
The value of COWLAND COPR if it finances the investment with equity is $___ Million. Round to two decimial places.