A project costs $$1$ million and has a base$-$case NPV of exactly zero $($NPV $=0).$

Note: A negative answer should be indicated by a minus sign. Enter your answers in dollars, not millions of dollars.

a$.$ If the firm invests, it has to raise $$690,000$ by a stock issue. Issue costs are $19\mathrm{.}75\%$ of$$net$$proceeds$.$ What is the project$$s APV?

b$.$ If the firm invests, there are no issue costs, but its debt capacity increases by $$690,000.$ The present value of interest tax shields on this debt is $$95,000.$ What is the project$$s APV?