3. A project costs $26 million and is expected to produce cash flows of $3 million a year in perpetuity. If the unlevered cost of capital is 12 percent. a. What is the project's NPV with all equity financing? b. Suppose the company plans to keep project debt fixed at $6 million. We assume the risk of the tax shields is the same as the risk of the debt and discount at 6% rate on debt, tax-rate is 21%. What is the value of tax shield? c. If the cost of financial distress is estimated to be around $200,000, what is the value of this oroject using APV methods