Over the real or complex field, we establish a duality formula for projection constants of finite-codimensional subspaces of Banach spaces with the Daugavet property. If then and minimal projections onto correspond exactly to weak-continuous minimal projections onto . This yields, in particular, a complete description of the hyperplane case: every hyperplane has projection constant , and admits a minimal projection if and only if attains its norm. We then specialise to the real space . Our second ingredient is a transfer principle from duplication-stable finite-dimensional subspaces of to piecewise-constant subspaces of . For the regular symmetric spaces constructed by Chalmers and the second-named author and the second named author and Prophet, respectively, the transferred subspaces retain their projection constants but admit no weak-continuous minimal projections. Passing to annihilators yields finite-codimensional subspaces of the real space for which the infimum defining the projection constant is not attained. As a consequence, for every there exists a finite-codimensional subspace of the real space such that and the infimum defining is not attained. For each even codimension we moreover realise every value in the interval , where is a Rademacher family on , and is the uniform probability measure.

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