$16-$ A project that provides annual cash flows of $28,700$ for nine years costs $138,966$ today. What is NPV if the required return is $8$ percent?

a$)40,319\mathrm{.}68$

b$)37,319\mathrm{.}68$

c$)50,319\mathrm{.}68$

d$)42,319\mathrm{.}68$

e$)$ None

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