Question $4.$ Suppose the firm wants to raise $$500,000$ for this new project that will provide $$80,000$

per year for the next $8$ years. The flotation cost of debt is $2\%,$ the flotation cost of equity is $4\%,$ and

the flotation cost of preferred equity is $3\%.$ What is the NPV of the project after accounting for the

flotation costs?