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Question 6 10 points Saved A project has an unlevered NPV of $1.5 million. To finance the project, debt is being issued with associated flotation
Question 6 10 points Saved A project has an unlevered NPV of $1.5 million. To finance the project, debt is being issued with associated flotation costs of $60,000. The flotation costs can be amortized over the project's 5-year life. The debt of $10 million is being issued at the market interest rate of 10 percent paid annually, with principal repaid in a lump sum at the end of the fifth year. The firm's tax rate is 21 percent. What is the project's adjusted present value (APV)? (Please, do not round intermediate calculations. Round the final answer only to 2 decimal places as shown in the instructions. Do not use the dollar symbol ($) in your final answer. Provide your final answer rounded to 2 decimal places as follows: XXX.XX)
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