Hertz has equity with a market value of $$10\mathrm{.}8$ million and the market value of debt is $$3\mathrm{.}55$ million. The company is evaluating a hew project that has more risk than the firm. As a result, the company will apply a risk adjustment factor of $1\mathrm{.}6$ percent. The new project will cost $$2\mathrm{.}20$ million today and provide annual cash flows of $$576,000$ for the next $6$ years. The company's cost of equity is $11\mathrm{.}07$ percent and the pretax cost of debt is $4\mathrm{.}88$ percent. The tax rate is $21$ percent. What is the project's NPV$?$

Multiple Choice

$$379,598$

$$244,873$

$$507,318$

$$231,884$