SunRa, Inc. has produced solar panels for over 20 years. The company currently has a debt-equity ratio of 50 percent and is in the 40 percent tax bracket. The required return on the firm's levered equity is 16 percent. SunRa is planning to expand its production capacity. The equipment to be purchased is expected to generate the following unlevered cash flows: year: 0 1 2 3 Cash Flow: -$18,000,000 5,700,000 9,500,000 8,800,000 The company has arranged a $9.3 million debt issue to partially finance the expansion. Under the loan, the company would pay interest of 9 percent at the end of each year on the outstanding balance at the beginning of the year. The company would also make year-end principal payments of $3,100,000 per year, completely retiring the issue by the end of the third year. Suppose the net present value of project is break even when cash flows are evaluated at the unlevered cost of equity capital; and suppose the net present value of the financing side effects are $1 million. What is the project adjusted present value? Less than $1 million More than $1 million. None of these values are correct. $1 million