NeoDiagnostic is an all-equity firm with 10,000 shares on issue currently selling for $25.36 each. The CAPM beta coefficient for NeoDiagnostic's (currently unlevered) equity is 1.6, while the riskless interest rate is 1.25% and the market risk premium is 5.75%. After share trading for the day ceases, Neo Diagnostic announces a new project to manufacture a "breakthrough product" arising from its just completed R&D program. The project will require it to invest $1.25 million. The investment can be depreciated on a straight-line basis over 10 years, with the first allowance available one year from today. NeoDiagnostic uses the riskless interest rate to discount the associated depreciation tax shield. The project is expected to produce before-tax operating cash flow equal to $237,000 at the end of the first year, growing at 4% annually for each of the following 3 years, then remaining constant for the following 6 years, at which point the project ends. The corporate tax rate is 21%. When announcing the project, NeoDiagnostic also announced that it intends to borrow $750,000 at an interest rate of 6% per annum to partially finance the project. Remaining funds needed for the investment will be raised through a new equity issue. The debt will be retired in full at the conclusion of the project in 10 years from now. Assume that the corporate tax effect of debt approximates the overall effect of debt on firm market value. NeoDiagnostic believes that the new project will not alter investor's perceptions of the fundamental risks for the company's business. (e) Write down the market value balance sheet immediately after the project is announced but before the debt and new equity have been sold. (f) Write down the market value balance sheet after the debt and new equity have been sold but before the investment has occurred. (g) Finally, write down the market value balance sheet immediately after the investment has been made before any other revenue or expenses have accrued