The All-Mining Inc. is deciding whether to invest in a new one-year project. The project costs $1,500 and would have to be financed by equity. The discount rate is 15% and the tax rate is zero. Currently, the market value of the firm is $1,500 and the promised debt is $2,000. What is the NPV for the shareholders if the project is accepted?

A. $ 217.39

B. -$1,282.61

C. -$595.65

D. -$378.26

E. none of the above

Would like step by step instructions for this question! Much appreciated!

Scenario Recession Normal Expansion Payoff in t-l $400 $2,500 $3,000 Probability 0.60 0.30 0.10