pex corporation has an equity cost of capital of 14.4% and a debt of 6%,and the firm mantains a debt equity ratio of 1.apex is considering an expansion that will contribute $4 million in free cash flows the first year,growing by 4% per year thereafter.The expansion will cost $60 million and will be financed with $40 million in new debt initially with a constant debt equity ratio maintained thereafter.Apex's corporate tax is 40%,tax rate interest income is 40%,and the tax rate on equity income is 20%.compute the value of the expansion using the APV method.