Wilson Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in net income after tax of $57,000. The equipment will have an initial cost of $611,000 and have an 8 year life. The salvage value of the equipment is estimated to be $43,000. If the hurdle rate is 12%, what is the approximate net present value?

a. Less than zero

b. $568,000

c. $43,000

d. $42,221