1. Alpha Industries is considering a project with an initial cost of $9 million. The project will produce cash inflows of $2.09 million per year for 6 years. The project has the same risk as the firm. The firm has a pretax cost of debt of 5.91 percent and a cost of equity of 11.47 percent. The debtequity ratio is .70 and the tax rate is 21 percent. What is the net present value of the project?

   		$468,665
   		$618,108
   		$534,901
   		$509,429
   		$325,304