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Estefan Industries has a new project available that requires an initial investment of $5.2 million. The project will provide unlevered cash flows of $839,000 per

Estefan Industries has a new project available that requires an initial investment of $5.2 million. The project will provide unlevered cash flows of $839,000 per year for the next 20 years. The company will finance the project with a debt-value ratio of .4. The companys bonds have a YTM of 6 percent. The companies with operations comparable to this project have unlevered betas of 1.19, 1.12, 1.34, and 1.29. The risk-free rate is 3.4 percent and the market risk premium is 6.6 percent. The tax rate is 24 percent. What is the NPV of this project?

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