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14. Beta and Leverage Fitzgerald Industries has a new project available that requires an initial investment of $4.6 million. The project will provide unlevered cash flows of $835,000 per year for the next 20 years. The company will finance the project with a debt-value ratio of .35. The company's bonds have a YTM of 6.8 percent. page 570 The companies with operations comparable to this project have unlevered betas of 1.15. 1.08. 1.30. and 1.25. The risk-free rate is 3.8 percent and the market risk premium is 7 percent. The tax rate is 21 percent. What is the NPV of this project?