Hankins, Inc, is considering a project that will result in initial savings will grow at a rate of 3 percent per year indefinitely The firm has a target debt-equity ratio of 57 a cost of equity of 13.2 percent, and an aftertax cost of debt of 5.1 percent. The cost-sav undertakes, management uses the subjective approach and applies an adjustment factor of risky projects i aftertax cash savings of $5.8 million at the end of the first year, and these ing proposal is somewhat risker than the usual project the firm 3 percent to the cost of capital for such calculate the wWACC (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g. 32.16.) What is the maximum cost the company would be willing to pay for this project? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Present value