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Travis & Sons has a capital structure that is based on 45 percent debt, 5 percent preferred stock, and 50 percent common stock. The pretax

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Travis \& Sons has a capital structure that is based on 45 percent debt, 5 percent preferred stock, and 50 percent common stock. The pretax cost of debt is 8.3 percent, the cost of preferred is 9.2 percent, and the cost of common stock is 15.4 percent. The tax rate is 21 percent. A prolect is being considered thiot is equally as risky as the overall company. This project has initial costs of $287,000 and annual cash inflows of $91,000,$248,000, and $145,000 over the next three years, respectively, What is the projected net present value of this project? Mutiple Cholce $116.667 $121802 $99,0tt $104,309 $101,488

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