A company is considering a project which has an initial startup cost of $787,050. The firm maintains a debt-to-equity ratio of 1.15. The flotation cost of debt is 8.66% and the flotation cost of external equity is 12.86%. The firm has sufficient internally generated equity to cover the equity cost of this project. What is the initial cost of the project including the flotation costs?

$802,919

$823,507

$844,095

$864,682

$885,270