Q3. The TDD Corporation is considering a $77 million investment in a new project. The project is expected to generate net cashflows of $20 million per year for 5 years. The ratio of debt to equity is 2 to 1. The cost of equity is 15%, the cost of debt is 9%, and the tax rate is 40%. What is the NPV of the project?

A) $1,574,187

B) $1,607,174

C) -$1,392,826

D) -$1,519,923

E) none of the above, the answer is $____________.