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Alpha Industries is considering a project with an initial cost of $$8\mathrm{.}3$ million. The project will produce cash inflows of $$1\mathrm{.}73$ million per year for $7$ years. The project has the same risk as the firm. The firm has a pretax cost of debt of $5\mathrm{.}70$ percent and a cost of equity of $11\mathrm{.}33$ percent. The debt$-$equity ratio is $\mathrm{.}63$ and the tax rate is $21$ percent. What is the net present value of the project?

Multiple Choice

$$497,921$

$$505,937$

$$613,870$