Estefan Industries has a new project available that requires an initial investment of $$5\mathrm{.}3$

million. The project will provide unlevered cash flows of $$845,000$ per year for the next

$20$ years. The company will finance the project with a debt$-$value ratio of $\mathrm{.}25.$ The

company's bonds have a YTM of $6\mathrm{.}1$ percent. The companies with operations

comparable to this project have unlevered betas of $1\mathrm{.}20,1\mathrm{.}13,1\mathrm{.}35,$ and $1\mathrm{.}30.$ The risk$-$free

rate is $3\mathrm{.}5$ percent and the market risk premium is $6\mathrm{.}7$ percent. The tax rate is $25$

percent. What is the NPV of this project? $($Do not round intermediate calculations and

enter your answer in dollars, not millions of dollars, rounded to $2$ decimal places, e$.$g$.,$

$1,234,567\mathrm{.}89)$

NPV

$

$1,177,436\mathrm{.}16$