(25 pts) A project has a NPV, assuming a11 equity financing, of $1.5 mi11ion. To finance the project, debt is issued with associated flotation costs of $60,000. The flotation costs can be amortized over the project's 5 year 1 ife. The debt of $10 mi11ion (assume inclusive of flotation costs) is issued at 10% interest, with principa1 repaid in a 1 ump sum at the end of the fifth year. If the firm's tax rate is 34%, calculate the project's APV. Hint: the NPV assuming a11 equity is already given, so the two other pieces of APV are the NPV of the flotation costs and the NPV of the loan