18. Johnson Co. is considering a new project with revenue of $325,000 for
the indefinite future. Cash costs are 63 percent of the revenue. The initial
cost of the investment is $525,000. The tax rate is 21 percent and the
unlevered cost of equity is 17 percent. What is the net present value of
the project?
(A) $24,810
(B)$43,347
(C)$68,165
(D)$33,809
(E) $21,729