A company is considering a project which has an initial startup cost of $789,146. The firm maintains a debt-to-equity ratio of 1.13. The flotation cost of debt is 8.69% and the flotation cost of external equity is 12.87%. 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?

$825,527
	$846,165
	$866,803
	$887,442
	$908,080