Question: Alpha Industries is considering a project with an initial cost of $97 million. The project will produce cash inflows of $1.67 million per year for

Alpha Industries is considering a project with an initial cost of $97 million. The project will produce cash inflows of $1.67 million per year for 9 years. The project has the same risk as the firm. The firm has a pretax cost of debt of 612 percent and a cost of equity of 1161 percent. The debt-equity ratio is 77 and the tax rate is 21 percent. What is the net present value of the project? Multiple Choice $450,872 $222456 $569696

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