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Alpha Corporation is considering a project that costs $10,000,000 and will increase the after-tax cash flows by $3,000,000 per year for five years. The company has total assets of $860,000,000 and total debt of $258,000,000. The borrowing rate is 10 percent, the corporate tax rate is 21%, the risk-free rate is 2%, the beta of the stock is 1.5, and the return on the market is 16 percent.

9. The percent of debt in the capital structure is ________

10. The cost of equity is __________

11. The weighted average cost of capital is __________

12. The NPV of the project is _________

13. Should Alpha undertake the project? Explain