A firm is considering investing in a new project with an upfront cost of $650 million. The project will generate an incremental free cash flow of $51 million in the first year and this cash flow is expected to grow at an annual rate of 2.5% forever. If the firm's WACC is 9.5%, what is the net present value of this project?

Group of answer choices

$1.379 billion

$78.6 million

$728.6 million

$96.8 million

$1.397 billion

$746.8 million