Honda is considering an entry into the light jet manufacturing industry. This new project "HondaJet" being a little riskier than their current line of operations, Honda's global CEO has decided to add an additional 2.5 % to the company's overall cost of capital when evaluating this project. Honda is considering an equity offering of $200 million to fund this project and the capital structure for the "HondaJet" division will have 40 percent debt and 60 percent equity. Nomura Securities has agreed to manage this issue at an overall cost of 4.6% to Honda. The company's cost of equity and after-tax cost of debt are estimated at 14% and 7%. The cash flows are estimated as: 1st Yr: $30 mill: 2nd Yr: $70 mill; 3rd Yr thru 16th Yr: 580 mill. What is the projected NPV of the "HondaJet" project? $181 million approx $108 million approx $321 million approx $248 million approx none of the above