Based on market values, Gubler's Gym has an equity multiplier of $1\mathrm{.}51$ times. Shareholders require a return of $11\mathrm{.}11$ percent on the company's stock and a pretax return of $4\mathrm{.}89$ 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 $$287,000$ per year for $8$ years. The tax rate is $35$ percent. What is the most the company would be willing to spend today on the project?

Multiple Choice

$$1,622,639$

$$1,491,160$

$$1,587,950$

$$1,849,546$

$$1,542,580$