A firm has a target debt-equity ratio of 37. The cost of debt is 9% and the cost of equity is 15%. The company has a 34% tax rate. A project has an initial cost of $70,000 and an annual after-tax cash flow of $21,000 for six years. There is no salvage value or net working capital requirement. What is the net present value of the project using the WACC? Multiple Choice $15,513 $14,092 $15,011 $15,942 $14,899