Alpha industries is considering a project with an initial cost of $8.6 million. The project will produce cash inflows of $2.04 million per year for 6 years. The project has the same risk as the firm. The firm has a pretax cost of debt of 5.79 percent and a cost equity of 11.39 percent. The debt-equity ratio is .66 and the tax rate is 21 percent. What is the net present value of the project? [First calculate WACC and use it as a discount rate to calculate NPV]

A - $639,228

B - 506,837

C - 758,352

D - 625,015

E - 656,266