What is the correct npv of the project

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A company is going to purchase a manufacturing machine for $56.0 million to be used in a project. The firm's CFO calculated that the NPV of the project is $356.35 million. Reviewing the financial projections, you realise that the manufacturing equipment was depreciated incorrectly. The CFO depreciated the machinery completely at the end of the project's first year instead of using the correct useful life of twenty-four years. What is the correct NPV of the project if the marginal tax rate of the firm is 33% and the discount rate is 15% per year?

Reference no: EM133002132

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