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World Coin Inc. considers a major worldwide expansion project. It currently has 30 million outstanding shares trading at $20 per share. World Coin equity has

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World Coin Inc. considers a major worldwide expansion project. It currently has 30 million outstanding shares trading at $20 per share. World Coin equity has an estimated beta of 1.6. The risk-free rate is 4%, while the market risk premium is 5%. It also has 400,000 outstanding bonds with 6.0% coupon rate, 20 years to maturity and $1,000 par. The bonds currently trade at par. The corporate tax rate is 20%. The project will require an immediate investment of $160 million and will generate $30 million pre-tax, in perpetuity. Should accept the project? Show numerically (NPV) why they should or shouldn't accept the project

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