A project has an initial investment requirement of $3,000 and will generate EBIT of $400 in per- petuity. The unlevered cost of equity is 8% and the corporate tax rate is 30%. The project will require debt in perpetuity equal to $500 and the cost of debt is 6%. What is the NPV of the project according to the APV approach? (A) $550 (B) $600 (C) $650 (D) None of the above