EverGreen, Inc. is currently evaluating a potential new investment. The investment will be financed with $900,000 of debt and $1,000,000 of equity. The (unleveraged) after-tax cash flows, the CFATs, expected to result from the investment are $1.5 million per year for three years, after which time the project is expected to be sold off for a net after-tax $1.2 million in cash. The debt financing will take the form of three-year debt with interest payments of 12% per year on the remaining balance. Principal payments will be $100,000 in year 1, $200,000 in year 2, and $400,000 at the end of year 3. The net-benefit-to-leverage factor, TM, is 0.20 for this investment. The (unleveraged) required return for the project is 18%. What is the present value of the net benefits from debt financing? Please click on the following link to access a blank Excel-type worksheet: Blank XLS Worksheet.xls Click to open: O $36,855.89 $39.212.58 o $44,84147 $48.785.61