Alpha Industries is considering a project with an initial cost of $$9\mathrm{.}7$ million. The project will produce cash inflows of $$1\mathrm{.}67$ million per year for $9$ years. The project has the same risk as the firm. The firm has a pretax cost of debt of $6\mathrm{.}12$ percent and a cost of equity of $11\mathrm{.}61$ percent. The debt$-$equity ratio is $\mathrm{.}77$ and the tax rate is $24$ percent. What is the net present value of the project?

Multiple Choice

$$435,752$

$$503,536$

$$222,456$

$$484,169$

$$415,002$