Alpha Industries is considering a project with an initial cost of $8.3 million. The project will produce cash inflows of $1.73 million per year for 7 years. The project has the same risk as the firm. The firm has a pretax cost of debt of 5.70 percent and a cost of equity of 11.33 percent. The debt-equity ratio is .63 and the tax rate is 25 percent. What is the net present value of the project?

Multiple Choice

$545,116

$471,735

$449,271

$524,150

$362,201