Alpha Industries is considering a project with an initial cost of $8.2 million. The project will produce cash inflows of $1.93 million per year for 6 years. The project has the same risk as the firm. The firm has a pretax cost of debt of 5.67% and a cost of equity of 11.31%. The debt-equity ratio is 0.62 and the tax rate is 21%. What is the net present value of the project?

Wentworth's Five and Dime Store has a cost of equity of 12.9%. The company has an aftertax cost of debt of 4.2%, and the tax rate is 40%. If the company's debt-equity ratio is 0.6, what is the weighted average cost of capital?

Charlotte's Crochet Shoppe has 14,900 shares of common stock outstanding at a price per share of $77 and a rate of return of 11.69%. The company also has 300 bonds outstanding, with a par value of $2,000 per bond. The pretax cost of debt is 6.17% and the bonds sell for 97.8% of par. What is the firm's WACC if the tax rate is 21%?