Alpha Industries is considering a project with an initial cost of $7.9 million. The project will produce cash inflows of $1.63 million per year for 7 years. The project has the same risk as the firm. The firm has a pretax cost of debt of 5.58 percent and a cost of equity of 11.25 percent. The debt-equity ratio is .59 and the tax rate is 21 percent. What is the net present value of the project?

$345,432

$263,667

$399,165

$383,813

$328,983