Answer the next two questions based on the following information about a project you are trying to convince your shareholders to invest in:

Year	0	1	2
Capital Expenditures	$ 350,000.00
Depreciation		$ 175,000.00	$ 175,000.00
Net Working Capital	$ -	$ 75,000.00	$ -
Debt	$ 175,484.45	$ 139,152.26
Interest		$ 8,774.22	$ 6,957.61
Unlevered Net Income		$ 130,000.00	$ 373,750.00
Free Cash Flow	$(350,000.00)	$ 230,000.00	$ 623,750.00

In addition, your tax rate is 35%, your cost of borrowing with equity is 15%, your WACC is 12.0625% and your unlevered cost of borrowing is 12.5%. Assume none of these change during the project.

What is the NPV of the project according to the Flow to Equity method? (Note, this will not be the same as the WACC method because this project does not maintain a constant debt ratio.)

Group of answer choices

$351,937.79

$360,316.75

$313,265.65

$375,502.66