Suppose Garageband.com has a 20% cost of equity capital and a10% before tax cost of debt capital. The firm's debt-toequity rato is 1.0. Garageband is interested in investing in a telecom project that will cost $1,000,000 and will provide an after tax annual cash flow of S600,000 starting one year from now lasting forever. Given the project is an extension of its core business, the project risk is similar to the overall risk of the firm. What is the net present value of this project if Garageband's tax rate is 3596? O A. 3,436,299 B. 1,600,000 C. 3,528,302 D. 1,943,396