Hartley, Inc. needs to purchase equipment for its 2,000 drive-ins nationwide. The total cost of the equipment is $2 million. It is estimated that the aftertax cash infows from the project will be $210,000 annually in perpetuity. Hartley has a market value debt-to-assets ratio of 40%. The frm's cost of equity is 13%, its pretax cost of debt is 8%, and the fotation costs of debt and equity are 2% and 8%, respectively. The tax rate is 34%. Assume the projec is of similar risk to the frm's existing operations. Ignoring fotation costs, what is the NPV of the proposed project? $119,072 ** $128,034 2 $98,542 UUU $33,966 $65,990