Example Consider a firm that is undertaking a single investment project that will last for 15 years. The total investment is $3 million; the annual cash flow before the payments for interest, principal, and taxes is $400,000; the income tax is 22%; the interest rate on debt is 4%; and the cost of equity is 6.5%. The form financial structure contains equal amounts of debt and equity. Calculate: 1) NPV(ROA) 2) NPV(ROE) PW