Alpha Industries is considering a project with an initial cost of $$6\mathrm{.}9$ million. The project will produce cash inflows of $$1\mathrm{.}52$ million a year for seven years. The firm has a pretax cost of debt of $9\mathrm{.}1$ percent and a cost of equity of $17\mathrm{.}7$ percent. The debt$-$equity ratio is $\mathrm{.}57$ and the tax rate is $21$ percent. The risk$-$free rate is $2\%$ and the market risk premium is $8\%.$ The firm uses the pure play approach to assign discount rates to projects. The beta of the project is $1\mathrm{.}5.$ What is the net present value of the project?