A company is considering a new project that would involve installing their product in a remote location. To complete the project, $165 million would be required at start up. Flotation costs are expected to be 8% for equity and 2.5% for debt. If the project is to be financed 60% with equity and 40% with debt, how much cash must be raised in order to finance the project?

a) $161.7 million

b) $128.6 million

c)$171.6 million

d)$142.2 million

e)$175.2 million