Aquarius Inc currently has an equity beta of $1\mathrm{.}5,$ a cost of debt of $3\%$ and keeps a constant debt to equity ratio of $\mathrm{.}75.$ The expected return on the market portfolio is $10\%,$ the risk free rate is $1\%$ and the corporate income tax rate is $25\%.$ Aquarius is looking at a project that requires an initial investment of $1,000,000$ and will produce an after$-$tax cash flow of $200,000$ per year in perpetuity. The project has the same risk as Aquarius' current business, but it will be fully equity financed. What is the NPV of the project?