Given a text T, and several options, according to the question posed in the text T to choose the most appropriate option from the options as the answer, please directly output the most appropriate option, do not need to output the explanation.

SebCoe plc, a British firm, is evaluating an investment in a ￡50 million project that will be financed with 50% debt and 50% equity. Management has already determined that the NPV of this project is ￡5 million if it uses internally generated equity. However, if the company uses external equity, it will incur flotation costs of 5.8%. Assuming flotation costs are not tax deductible, the NPV using external equity would be:
Option A:less than ￡5 million because we would discount the cash flows using a higher weighted average cost of capital that reflects the flotation costs.
Option B:￡3.55 million because flotation costs reduce NPV by $1.45 million.
Option C:￡5 million because flotation costs have no impact on NPV.

Answer: B