Suppose that a firm with D/E = 0.5, = 12% and = 3% is considering investing in a project that increases its free cash-flow by $1.8 million every year in perpetuity, has the same risk as its existing assets and requires an initial investment of $5 million. Suppose now that the corporate tax rate is 40%. What is the net present value of the project ignoring any financing effects? Suppose the firm will finance the project with a fixed level of debt of $1.5million. Suppose it can issue the new debt also at = 3%. What is the net present value of the project accounting for financing effects? Suppose instead that the firm will finance the project, but with a constant D/E ratio of 1, instead of its original D/E ratio of 0.5. What is the value of the project, net of investment, if the firm can raise the new debt at the same interest rate = 3%?