National Electric Company (NEC) is considering a $45.13 million project in its power systems division. Nik Tesla, the company's CFO, has evaluated the project and determined that the project's unlevered cash flows will be $3.23 million per year in perpetuity. Nik has devised two possibilities for raising the initial investment: issuing 10-year bonds or issuing common stock. NEC's pre-tax cost of debt is 8.2 percent, and its cost of equity is 12.1 percent. The company's target debt-to-value ratio is 85 percent. The project has the same risk as NEC's existing businesses, and it will support the same amount of debt. NEC is in the 40 percent tax bracket. Calculate the weighted average cost of capital. (Do not round intermediate calculations. Round the final answer to 2 decimal places.) Weighted average cost of capital % Calculate the net present value of the project. (Enter the answer in dollars. Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Net present value $ Should NEC accept the project? O No O Yes