A project is expected to generate $10M in sales next year. The annual costs are expected to be 30% of sales. The tax rate is 20%. The after-tax cash flow is expected to remain constant forever. The initial investment is $14.74M in debt and $35.26M in equity. The target debt ratio for the project is 25%. The unlevered cost of capital is 10% and the cost of debt is 5%. Find the NPV of the project using the FTE method