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Problem 18-14 Beta and Leverage Fitzgerald Industries has a new project available that requires an initial investment of $4.8 million. The. project will provide unlevered

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Problem 18-14 Beta and Leverage Fitzgerald Industries has a new project available that requires an initial investment of $4.8 million. The. project will provide unlevered cash flows of $852,000 per year for the next 20 years. The company will finance the project with a debt-value ratio of .25. The company's bonds have a YTM of 7.3 percent. The companies with operations comparable to this project have unlevered betas of 1.07, .95, 1.22, and 1.17. The risk-free rate is 4.5 percent and the market risk premium is 6.1 percent. The tax rate is 22 percent. What is the NP of this project? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to 2 decimal places, e.g., 1,234,567.89) NPV

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