Alpha Industries is considering a project with an initial cost of $$8\mathrm{.}5$ million. The project will produce cash inflows of $$1\mathrm{.}51$ million per year for $9$ years. The project has the same risk as the firm. The firm has a pretax cost of debt of $5\mathrm{.}76$ percent and a cost of equity of $11\mathrm{.}37$ percent. The debt$-$equity ratio is $\mathrm{.}65$ and the tax rate is $22$ percent. What is the net present value of the project?

Multiple Choice

$$611,108$

$$706,169$

$$582,008$

$$679,009$

$$494,235$