Question 29 (5 points) A firm has a capital structure of 100% equity. An analyst has estimated the firm's beta as 0.80 , and current market conditions feature a risk-free rate of 2%, and a market portfolio risk premium of 6%. The firm is considering the following project: - Invest \$60 million today - The project will have a cash flow of $5 million in the first year, and cash flows will grow by 5% each year for a 20-year period. What is projected NPV for this project? -\$1.06 million $12.05 million $20.05 million $4.72 million $9.52 million Page 29 of 29