A firm is considering a project with an initial cost $6,200,000. The project will produce cash inflows $1,810,000 a year for 5 years. The firm uses the subjective approach to assign discount rates to projects. For this project, the subjective adjustment is +2%. The firm has a pre-tax cost of debt of 5.7% and a cost of equity of 9.4%. The debt- equity ratio is 0.6 and the tax rate is 21%. What is the net present value of the project? O a. $738,504 O b. $790,909 O c. $710,053 O d. $742,067