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A company is planning a new project. The project will cost $ 3 8 0 , 0 0 0 , and is expected to generate

A company is planning a new project. The project will cost $380,000, and is expected to generate after tax cash flows of $34,960 in perpetuity. The company has a D/E ratio of 45%, a cost of equity of 9.7%, and a cost of debt of 4.7%. Assume the company pays tax at a rate of 25%. Find the NPV of this project. (An amount to within $100 will be marked correctly.)
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