Problem 19-13 APV A project costs $1 million and has a base-case NPV of exactly zero (NPV = 0). (A negative answer should be indicated by a minus sign. Enter your answers in dollars, not millions of dollars.) a. If the firm invests, it has to raise $600,000 by a stock issue. Issue costs are 17.25% of net proceeds. What is the project's APV? Adjusted present value b. If the firm invests, there are no issue costs, but its debt capacity increases by $600,000. The present value of interest tax shields on this debt is $86,000. What is the project's APV? Adjusted present value