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Jensen Shipping is considering a project that has an initial cost of $224,000. The project will produce aftertax cash flows of $46,000 a year forever.

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Jensen Shipping is considering a project that has an initial cost of $224,000. The project will produce aftertax cash flows of $46,000 a year forever. The firm's WACC is 15.2 percent and its tax rate is 36 percent. Equity has a flotation cost of 12.0 percent while the flotation cost for debt is 5.5 percent. What is the net present value of this project, including the flotation costs, if the firm's debt-equity ratio is 3? (Rounded) O $37.536 O $31,536 O $46,949 O $52,352

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