River Rocks realizes that it will have to raise the financing for the acquisition of Raft Adventures by issuing new debt and equity. The acquisition project has a net present value of $36.96 million. The firm estimates that the direct issuing costs will come to $6.91 milion. How should it account for these costs in evaluating the project? Should River Rocks proceed with the project? NPV-$36.96 million+ 56.91 million 543 87 milion OB. The direct issuing costs should not be included as a direct cost of the acquisition because it is a sunk cost C. The direct issuing costs should be included as a direct cost of the acquisition, ie. NPV = $36.96 million $6.91 milions $30.05 million OD. The direct issuing costs should be included as a direct cost and should be amortized over the life of the project