Your firm is considering taking on a project that will result in aftertax cash savings of $$150,000$ per year for the next $5$ years. Your firm has a $0\mathrm{.}85$ debt$-$to$-$equity ratio. The yield to maturity on bonds is $5\%.$ Corporate tax rate is $30\%.$ The current stock price is $$47.$ The firm has paid dividends of $$2,$ $$2\mathrm{.}50,$ and $$3$ over the last $3$ years and the most recent dividend payment is $$4.$ Use the arithmetic average growth rate to estimate the cost of equity. Since this project is riskier than usual, management will apply an adjustment factor of $+3\%$ to the cost of capital for this project. What is the maximum cost of the project for us to accept?