15 A new project ACME Inc. has decided to invest in a new project which is unrelated to its main business. The project will require an investment of $ 5.000.000 right now. in year 0. and then produce free cash flows of $ 500,000 per year for the next 15 years. ACME keeps a fixed debt-to-equity ratio of 0.5. This will also determine the financing of the project. The interest paid on the debt will be 4.5%. Marvel Inc. is a company in the same industry as ACME's new project. It also keeps a constant debt-to-equity ratio. Marvel's equity consists of 10,000 shares with a current market price of $ 125. Its debt consists of 2.000 bonds with a current market price of $ 950 cach. Marvel's equity has a beta of 1.5, expected returns on the market portfolio are 8% and the risk-free rate is 1%. The expected return on Marvel's debt is 5%. The corporate income tax rate is 30%. Based on this information, what is the net present value of ACMES new project