project costs $400000 today and is expected to return 11% before corporate income taxes.  The appropriate after-tax cost of capital is 9%, and the firm pays taxes at the marginal rate of 40%.  What is this projectʹs NPV?  Round your answer to the nearest dollar.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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A project costs $400000 today and is expected to return 11% before corporate income taxes.  The appropriate after-tax cost of capital is 9%, and the firm pays taxes at the marginal rate of 40%.  What is this projectʹs NPV?  Round your answer to the nearest dollar.
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24,220
(8,807)
(9,600)
1,938                                                          
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