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Alpha Industries is considering a project with an initial cost of $9.2 million. The project will produce cash inflows of $1.72 million per year for

Alpha Industries is considering a project with an initial cost of $9.2 million. The project will produce cash inflows of $1.72 million per year for 8 years. The project has the same risk as the firm. The firm has a pretax cost of debt of 5.97 percent and a cost of equity of 11.51 percent. The debtequity ratio is .72 and the tax rate is 35 percent. What is the net present value of the project?

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