1. A firm expects to generate net income of $600 million, $550 million, $550 million, and $500 million at the end of each of the next four years. Then this new project will be abandoned at no residual value at the end of the fourth year. Also, assume that the firms only financing alternative to support this investment project is to use both 50% of debt and 50% of equity. If the cost of debt and equity are 8% and 14%, respectively, what will be the value of this new project based on the discounted cash flow method?