onic needs to purchase equipment for its drive-ins nationwide. The total cost of the equipment is $2 million. It is estimated that the after-tax cash inflows from the project will be $210,000 annually in perpetuity. The market value debt-to-assets ratio is 40%. The firm's cost of equity is 13%, its pre-tax cost of debt is 8%, and the flotation costs of debt and equity are 2% and 8%, respectively. The tax rate is 37.5%. The project is similar to the firm's existing operations. When applicable, round all answers to the nearest dollar or tenths of a percent. Ignoring flotation costs, what is the NPV of the proposed project? A. $142,857 B. $118,644 C. $ 98,542 D. $ 65,990 E. None of the Above