1) Ganymede has 5 million in long-term debt on its balance sheet. The loan was issued 3 years ago for 8 years. The underlying bonds have a nominal value of 100 Euro, will be repaid at 104% and the annual coupon rate is 6.99%. The company's CFO indicates that a similar loan (risk and maturity) would yield potential lenders 7.93% per year today. The income tax rate is 1/3. What is Ganymede's after-tax cost of debt? (%, 2 decimal places)

2) A project requires an investment of 130,727 euros (period 0), and will subsequently bring in cash flows from operations of 50891 euros each year for 4 years. The disinvestment will be 9893 euros (after taxes) and the required rate of return is 15.94%. What is the NPV of the project? (in euros, no decimal points)