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You are a financial manager at Cisco and are trying to assess the following project. The project will require a $70 million initial investment and

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You are a financial manager at Cisco and are trying to assess the following project. The project will require a $70 million initial investment and will generate free cash flows in years 15 as shown in the table below. Cisco maintains a constant debt-to-enterprise value ratio of 45% and its current WACC is 10.3%. Assuming that Cisco takes the project, how much additional debt must Cisco Issue in order to maintain a constant debt-toenterprise value ratio of 45% ? (Select one) $46.63 million $31.5 million \$15.13 million $70 million

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