ABC Inc. is considering an $18-$year project that will generate before tax cash flow of $$24,000$ per year for $18$ years. The project requires a machine that costs $$75,000.$ The CCA rate is $25\%$ and the salvage value is $$9,600.$ ABC borrows $$25,000$ at a subsidized interest rate of $4\%$ to finance the machine and is required to repay $$5,000$ at the end of year $6,$ $$10,000$ at the end of year $10,$ and the remaining balance at the end of year $18.$ The corporate tax rate is $30\%.$ ABC$$s cost of debt is $7\%.$

$($a$)$ If the cost of unlevered equity is $11\%$ and the asset class remains open with a positive UCC after the

project ends, calculate the NPV of the project using the APV approach.