Your client, a real estate company, is evaluating a real estate project of $15,000,000 that will provide them with yearly NOI of $1,950,000 for the next 10 years and can then be resold for an amount estimated at $20,000,000. They can finance 75% of the purchase price through a 10- year mortgage with an amortization period of 25 years and an interest rate of 8%. Your client will only proceed with the project if its returns are greater than his WACC or cost of equity. He provides you with the following information about his company: Market value of equity $50,000,000 Cost of equity 20% Market value of debt $75,000,000 Cost of debt 10% Tax rate 30% c) Calculate the levered NPV