Alpha Industries is considering a project with an initial cost of $$10,000,000.$ The project will produce cash inflows of $$1,600,000$ per year for $9$ years. The project has the same risk as the firm. The firm has a pretax cost of debt of $5$ percent and a cost of equity of $10$ percent. The debt$-$equity ratio is $\mathrm{.}75$ and the tax rate is $30$ percent. What is the net present value of the project? Q$33$

$($Do not round intermediate transactions. Round your final answer to the closest $2$ decimals. Do not use the $ sign. If your answer is $$123\mathrm{.}45,$ then enter $123\mathrm{.}45)$

Numeric Response

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