Alpha Industries is considering a project with an initial cost of $9.6 million. The project will produce cash inflows of $1.79 million per year for 8 years. The project has the same risk as the firm. The firm has a pretax cost of debt of 6.09 percent and a cost of equity of 11.59 percent. The debt-equity ratio is. 76 and the tax rate is 39 percent. What is the net present value of the project? $228,649 $551,667 $637,482 $525,397 $612,963