Alpha Industries is considering a project with an initial cost of $8.4 million. The project will produce cash inflows of $1.56 million per year for 8 years. The project has the same risk as the firm. The firm has a pretax cost of debt of 5.49 percent and a cost of equity of 11.19 percent. The debtequity ratio is .56 and the tax rate is 21 percent. What is the net present value of the project?

A $400,549

B $462,857

C $188,348

D $321,651

E $381,475