Use the following information to answer the next five questions: Consider the after-tax cash flows below from a project that is being considered by Despondus Corporation. Since the project is an extension of the firm's current business, it carries the same risk as the overall firm.

Year	0	1	2	3	4	5
Cash Flow	-$335,000	$84,000	$67,000	$114,000	$93,000	$105,000

Despondus Corporation's common stock is currently priced at $53.18, and there are 819,000,000 shares outstanding. A dividend of $4.34 per share was just paid, and dividends are expected to grow at a constant rate of 7.09% per year.

The company has 13,650,000 bonds outstanding that mature in 23 years and are currently priced at $1,062 per bond. The coupon rate is 13.53%, and the bonds make semiannual interest payments. The company's tax rate is 37%.

What is Despondus Corporation's after-tax cost of debt? (Using a YTM approximation formula to solve this will result in a score of zero for this part of the question. If you found a YTM formula on the internet, it's an approximation. Use a financial calculator instead.)

What is Despondus Corporation's weighted average cost of capital (WACC)?

What is the net present value of the project? (Round to the nearest dollar.)