Polynesian Resorts Intl. (PRI) is considering purchasing beachfront bungalows on the island of Fiji. The project has a ten year life and has the after tax cash flows given below. PRI has a pretax cost of debt of 6%. CAPM data indicate the beta is 1.1, the expected return on the market is 14% and the risk free rate is 2%. PRI uses a 48% debt to capital ratio. What is the NPV of this project if PRI has a 30% tax rate? (Watch your rounding) Year 0 1 10 After tax Cash Flow -$1,250,000 +$225,000 a. -$129,332 b. $406,020 c. $ 87,165 d. $137,292 e. $108,162