Based on market values, Gubler's Gym has an equity multiplier of 1.47 times. Shareholders require a return of 10.95 percent on the company's stock and a pretax return of 4.85 percent on the company's debt. The company is evaluating a new project that has the same risk as the company itself. The project will generate annual aftertax cash flows of $279,000 per year for 8 years. The tax rate is 21 percent. What is the most the company would be willing to spend today on the project? Multiple Choice $1,500,113 $1,544,234 $1,563,102 $1,804,190 $1,450,109