You are attempting to reconstruct a project analysis of a co-worker who was fired. You have found the following information:

1. The IRR is 12%.

2. The project life is 4 years.

3. The initial cost is $20,000.

4. In years 1, 2 and 3 the cash inflows are $3,000, $6,000, and $9,000, respectively.

5. You know there will be a cash flow in year 4, but the amount is not in the file.

6. The appropriate discount rate is 12%.

What is the NPV of the project?

A. $1038.24

B. $9649.10

C. $10352.88

D. $11034.96

E. $0